Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1779.09 with take profit at 1785.30
Bearish Preference:
Sell position is envisaged if price trades below 1771.65 with take profit at 1767.95
Fundamentals:
2:30pm USD: Empire State Manufacturing Index
2:30PM PPI m/m
Comment:
European stock markets edged higher Tuesday, boosted by some positive inflation data, although Vodafone (LON:VOD) slumped on a disappointing update. Global equity markets have been boosted over the last week by hopes that the Federal Reserve will shortly slow its aggressive monetary tightening campaign as U.S. inflation showed signs of slowing.
Analysis: SCRUM Team