Highlights

COMEX Gold Update

Author: InvestorsDoctor   |   Latest post: Thu, 25 Apr 2019, 11:14 AM

 

Daily Futures Commentaries: [Comex Gold] 14/3/2019 - Continue rebound, close above 1310 to trigger more upside

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14/3/2019

 
*Gold Apr 19*
 
Previous Close: 1309.3 +11.2
 
Gold settled higher at nearly 2 week high on Wednesday as below than expected US economic data reinforced views the Federal Reserve would be patient on monetary policy and also supported by uncertainty over a Brexit deal.
 
Hourly chart formed higher highs & lows, may test 50-61.8 Fibo retracement level of swing 1349.8-1280.8 with now go for a technical correction from RSI overbought.
 
*Classic Support & Resistance* 
Resistance: 1316.5 1328.9
Support: 1290.6 1280.8
 
*Recommend Trading Plan for the day:* 
1. Look for buy signal above 1311.6.
2. Sell 1309 for technical correction, stop 1310.4, profit 1307.6/1306.2/1304.8.
 
*Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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