Instrument: GOLDs
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1948.95 with take profit at 1954.17
Bearish Preference:
A sell position is envisaged if the price trades below price 1933.39 with take profit at 1928.92
Fundamentals:
USD FOMC Economic Projections 7PM
FOMC Press Conference 7:30PM
Comment:
Gold prices sank almost 2% on Tuesday, marking the worst single-day performance since February 3rd. The anti-fiat yellow metal struggled amidst a 4.7% increase in the 2-year Treasury yield as the S&P 500 pushed higher. The US benchmark stock index is up about 2.3% this week so far. If equities hold onto their gains, we could be looking at the best week since the end of January.
Analysis: SCRUM Team
