Instrument: GOLD+
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1671.85 with take profit at 1672.87
Bearish Preference:
A Sell position is envisaged if price trades below price 1667.30 with take profit at 1665.93
Fundamentals:
USD: Congressional Elections (All Day)
Comment:
The gold price has found support ahead of crucial US CPI on Thursday. The market has expectations that the data might reveal a slight easing of the annual number, but the monthly figure is anticipated to remain firm. According to a Bloomberg survey of economists, headline month-on-month CPI for October is forecast to be 0.6% against 0.4% for September and 7.9% for the year-on-year figure against 8.2% previously.
Analysis: SCRUM Team
