Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1888.99 with take profit at 1894.85.
Bearish Preference:
Sell position is envisaged if price trades below 1877.05 with take profit at 1869.24
Fundamentals:
No Major Fundamentals
Comment:
Gold peaked at $800 sometime in 1979 or 1980 and didn’t bottom until the late 1990s and from what I can remember, it was around $200– $250 an ounce when it did bottom in the late 1990s, and then peaked again at roughly $1,858.50 an ounce in September 2011.
Analysis: SCRUM Team
