Instrument: GOLD+
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1972.53 with take profit at 1975.95
Bearish Preference:
A sell position is envisaged if the price trades below price 1963.90 with take profit at 1959.62
Fundamentals:
None with High Impact
Comment:
Gold prices retreated on Monday as traders locked in profits after a strong run of gains, but remained near key levels hit last week as fears of a global banking crisis kept safe haven demand high.
Gold and other precious metals rallied over the past three weeks as fears of a banking crisis ramped up bets of less policy tightening this year. While the Federal Reserve hiked rates as expected last week, it also hinted that peak interest rates were within reach.
Analysis: SCRUM Team
