Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1775.75 with take profit at 1778.80.
Bearish Preference:
Sell position is envisaged if price trades below 1765.31 with take profit at 1762.58.
Fundamentals: No Major Fundamental.
Comment: U.S. stocks are seen opening sharply higher Tuesday, bouncing back from the previous session’s major selloff, ahead of the start of the Federal Reserve’s latest policy-setting meeting. The main equity indices sold off aggressively Monday, weighed by concerns about contagion from Chinese property giant China Evergrande Group’s (HK:3333) debt crisis, political difficulties surrounding the passing of President Joe Biden’s economic agenda and lingering Covid-19 issues – not to mention the Fed meeting.
Analysis: SCRUM Team
