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Instrument: GOLD
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above 1725.62 with take profit at 1727.23
Bearish Preference:
A sell position is envisaged if price trades below price 1718.76 with take profit at 1717.53
Fundamentals:
1:30 USD: CPI m/m
Core CPI m/m
Comment:
The gold price has found support ahead of crucial US CPI on Tuesday as the market has expectations that the data will show overall easing price pressures. Headline month-on-month CPI for August is anticipated to be -0.1% against a flat number for July and 8.1% for the year-on-year figure against 8.5% previously.
Analysis: SCRUM Team
