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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1823.61 with take profit at 1825.84.
Bearish Preference:
Sell position is envisaged if price trades below 1820.40 with take profit at 1818.08.
Fundamentals:
No major fundamental
Comment: Gold held steadily during Monday’s APAC session after gaining 1.6% over the past week. A slew of upbeat economic data bolstered risk sentiment, defying fears about the negative impact of the Omicron variant on economic recovery. This may limit the upside potential for the yellow metal, which is commonly viewed as a safe haven asset.
Analysis: SCRUM Team
