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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1944.01 with take profit at 1947.79 .
Bearish Preference:
Sell position is envisaged if price trades below 1934.65 with take profit at 1929.42.
Fundamentals:
2:15pm USD ADP Non-Farm Employment Change
4PM USD Fed Chair Powell Testifies
Comment:
Jittery markets once again came to the rescue of gold, helping the bright metal stage a solid rebound from near the $1,900 threshold. In the first half of Wednesday, gold price licked its wounds amid the two-day downtrend, as investors digested the news about a lack of progress on the first round of peace talks between Russia and Ukraine.
Analysis: SCRUM Team
