Highlights

COMEX Gold Update

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

 

Daily Futures Commentaries: [Comex Gold] 10/1/2019 - Retest 1300 level, close above to trigger more upside

Author:   |    Publish date:




10/1/2019

 
*Gold Feb 19*
 
Previous Close: 1292 +6.1
 
Gold boosted to above 1290 as USD retreat from high. Watch out for Fed Chair speech on 1am tomorrow. 
 
Hourly chart formed a double bottom from around 1280 which is also Fibo extension level and now retest 1300. Technical indicators crossing up and RSI approaching overbought zone.
 
*Classic Support & Resistance* 
Resistance: 1300.4 1313 
Support: 1288.8 1278.1
 
 *Recommend Trading Plan for the day:* 
1. Buy 1296, stop 1294.5, profit 1297.5/1299.
2. Look for sell signal if unable to sustain above 1300.
 
 *Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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