Instrument: GOLD+
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1998.44 with take profit at 1999.83
Bearish Preference:
A sell position is envisaged if the price trades below price 1992.59 with take profit at 1991.26
Fundamentals:
3PM USD: CB Consumer Confidence
Comment:
In recent weeks, gold and silver prices have been struggling to find the momentum to resume the broader upside trajectory since bottoming last year. From a technical standpoint, while some bearish signals have emerged, the broader upside focus remains. But, from a positioning standpoint, perhaps there is continued support for upside progress.
Analysis: SCRUM Team