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Instrument: GOLDs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1819.63 with take profit at 1822.44.
Bearish Preference:
Sell position is envisaged if price trades below 1816.01 with take profit at 1813.28.
Fundamentals:
No major Fundamental.
Comment:
Gold futures are trading nearly flat early Tuesday, but prices remained near the previous sessions over one-week high. Helping to put a lid on gains are rising U.S. Treasury yields and a firmer U.S. Dollar. Thursday’s U.S. consumer inflation report (CPI) for January is expected to show an annual rise of 7.3%, which would be the largest such increase since 1982. The data is crucial for the Federal Reserve’s tapering timeline so a robust number could put pressure on central bank policymakers to attack inflation with aggressive tightening.
Analysis: SCRUM Team
