Highlights

COMEX Gold Update

Author: InvestorsDoctor   |   Latest post: Fri, 11 Oct 2019, 10:18 AM

 

Daily Futures Commentaries: [Comex Gold] 11/2/2019 - Enter technical correction from RSI bearish divergence

Author:   |    Publish date:




11/2/2019

 
*Gold Apr 19*
 
Previous Close: 1318.2 +4.4
 
Gold was higher on last Friday but ended the week with losses as pressured by gains in USD. 
 
Daily chart showed gold testing for a technical correction from RSI bearish divergence, yet overall remain in a rebound stage, close below 1306 to trigger more downside. 
 
*Classic Support & Resistance* 
Resistance: 1328.2 1337.6
Support: 1296.5 1275.3
 
*Recommend Trading Plan for the day:* 
1. Sell 1314.9 for technical correction, stop 1316.2, profit 1313.6/1312.3/1311.
2. Look for buy signal above 1319.5.
 
*Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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