Skip to content 
Instrument: Gold
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1729.67 with take profit at 1732.26
Bearish Preference:
Sell position is envisaged if price trades below 1723.79 with take profit at 1721.42
Fundamentals:
3:00 pm USD: CB Consumer Confidence
Comment:
The price of gold may continue to consolidate ahead of the Federal Open Market Committee (FOMC) rate decision as the central bank is widely expected to deliver another 75bp rate hike, and the advance from the yearly low ($1681) may turn out to be a correction in the broader trend as the 50-Day SMA ($1802) continues to reflect a negative slope.
Analysis: SCRUM Team
