Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1786.47 with take profit at 1789.00.
Bearish Preference:
Sell position is envisaged if price trades below 1781.44 with take profit at 1778.85.
Fundamentals:
None with high Impact
Comment: Disappointing ISM manufacturing PMI on Monday, along with a temporary dip in Treasury yields below 1.6%, saw gold kick off the week on a solid footing. The yellow metal found strong resistance at USD1800 – a level that is proving to be a tough nut to crack.
Analysis: SCRUM Team
