Highlights

COMEX Gold Update

Author: InvestorsDoctor   |   Latest post: Fri, 17 May 2019, 10:19 AM

 

Daily Futures Commentaries: [Comex Gold] 9/1/2019 - Enter RSI overbought technical correction, close below 1278 to trigger more downside

Author:   |    Publish date:




9/1/2019

 
*Gold Feb 19*
 
Previous Close: 1285.9 -4
 
Gold down yesterday as trade talk lifted stock market and USD. 
 
Daily chart likely to enter RSI overbought technical correction while hourly chart move in range, close below 1278 to trigger more downside.
 
*Classic Support & Resistance* 
Resistance: 1291.4 1300.4 
Support: 1278.1 1267.5
 
 *Recommend Trading Plan for the day:* 
1. Trade in range 1278-1288, wait for breakout.
2. Sell 1285.1, stop 1286.3, profit 1283.9/1282.7/1281.5.
 
 *Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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