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Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 2028.08 with take profit at 2035.25.
Bearish Preference:
Sell position is envisaged if price trades below 2009.34 with take profit at 2002.45.
Fundamentals:
No major Fundamental
Comment:
Gold prices are attempting to mark a sixth-consecutive weekly advance with a breakout in XAU/USD surging more than 12.4% off the yearly low. As Russia’s war in Ukraine rages on, haven flows have continued to favor gold with the rally now eyeing key resistance objectives near the record highs. These are the updated targets and invalidation levels that matter on the weekly technical chart.
Analysis: SCRUM Team
