Daily Market Analysis 15/10/2021: GOLD

Instrument: GOLDs

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1779.17 with take profit at 1782.25.

Bearish Preference: 
Sell position is envisaged if price trades below 1770.30 with take profit at 1767.60.

Fundamentals:
1:30pm USD Core Retail Sales m/m
             USD Retail Sales m/m

Comment: On Thursday, gold traders even ignored the better-than-expected U.S. Weekly Initial Claims numbers. Gold futures are edging lower early Friday after touching a one-month high the previous session.

Analysis: SCRUM Team