Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1758.61 with take profit at 1762.67
Bearish Preference:
Sell position is envisaged if price trades below 1753.05 with take profit at 1750.37
Fundamentals:
No major fundamental
Comment:
European stock markets are expected to open marginally higher in subdued trading Thursday, as investors digest the minutes from the latest Federal Reserve meeting as well as news of fresh stimulus from China. The minutes from the early November FOMC meeting increased the prospect of the Federal Reserve easing the pace of its aggressive interest rate hikes going forward Investors now largely expect the Fed to hike by 50 basis points to 4.25%-4.5% at the December policy meeting, after four consecutive increases of 75 basis points.
Analysis: SCRUM Team