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Instrument: GOLD+
Bullish Preference:
A Buy position is envisaged if the price trades above 2008.77 With Take profit at 2011.51
Bearish Preference:
A Sell position is envisaged if the price trades below 2002.47 with Take profit at 1999.89
Fundamentals:
USD: Unemployment Claims 2:30PM
Revised UoM Consumer Sentiment 4:00PM
Comment:
The global commodities market is witnessing a complex interplay of supply and demand dynamics, with Goldman Sachs maintaining a bearish outlook on lithium, even as iron ore prices receive a boost from Chinese economic stimulus expectations.
The investment bank has projected additional potential declines in lithium prices, with spodumene spot prices already having plummeted over 75% to $1,650 per tonne this year. This trend is mirrored in China, where prices for lithium hydroxide and carbonate hover around $19,000-$20,000 per tonne, respectively.
Analysis: SCRUM Team
