Instrument: GOLD
Technical Analysis
Bearish Preference:
Sell is envisaged if price trades below 1786.99 with take profit at 1781.88
Bullish Preference:
Buy is envisaged if price trades above 1795.91 with take profit at 1800.87
Fundamentals:
2:30pm USD Core Retail Sales m/m
USD Retail Sales m/m
Comment: Gold was down on Wednesday morning in Asia, continuing its decline for a fifth consecutive day. The safe-haven yellow metal is headed for its longest period of decline in almost a year, thanks to Treasury yields surging over expectations of a quick global economic recovery from COVID-19.
Analysis: SCRUM Team
