COMEX Gold Update

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


Daily Futures Commentaries: [Comex Gold] 11/1/2019 - Entering sideway, wait for breakout

Author:   |    Publish date:


*Gold Feb 19*
Previous Close: 1287.4 -4.6
Gold eased on yesterday yet still sustain at around 6 month high as USD and US stock market continue to rebound.
Daily chart showed gold remain in rebound stage as technical indicators crossing up but likely to enter sideway in short term as no new breakout from the gold price. Fibo retracement level of swing 1369.4-1167.1 suggested that gold now testing 61.8 level.
*Classic Support & Resistance* 
Resistance: 1300.4 1313 
Support: 1278.1 1267.4
 *Recommend Trading Plan for the day:* 
1. Look for sell signal below 1286.7.
2. Look for buy signal above 1300.
 *Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
Disclaimer: Idea sharing only, trade at your own risk.
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