Analyst
Intraday: Bullish
Preference: Buy position is envisaged if price trades above 1644.89 with take profit at 1658.75.
Alternative scenario: Sell position is envisaged if price trades below 1636.97 with take profit at 1617.17.
No major economic data with direct bearing on the commodity
Comment: This commodity saw a huge sell-off after having a 5 day bullish gain. Impact of COVID-19 has strongly supported the commodity as investors look for safe-haven assets, boosting gold, the US dollar and the US treasuries.
Intraday: Bullish
Preference: Buy position is envisaged if price trades above 0.63418 with take profit at 0.63723.
Alternative scenario: Sell position is envisaged if price trades below 0.63246 with take profit at 0.63053.
CB Consumer Confidence (USD) 4pm
Comment: This instrument has been trading parallel due to the lacklustre data coming out from both countries. The technical set up on the daily chart favours a bullish move.
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