Highlights

COMEX Gold Update

Author: InvestorsDoctor   |   Latest post: Wed, 24 Apr 2019, 12:01 PM

 

Daily Futures Commentaries: [Comex Gold] 15/3/2019 - Testing rebound to 1300 level

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15/3/2019

 
*Gold Apr 19*
 
Previous Close: 1295.1 -14.2
 
Gold fell more than 1% yesterday to below 1300 as weighed down by strong rebound in USD and recovery in stock market.
 
Hourly chart formed a rebound from 38.2 Fibo retracement level of swing 1280.8-1311.6 around 1292, close below that level to trigger more downside.
 
*Classic Support & Resistance* 
Resistance: 1311.6 1316.5
Support: 1290.6 1280.8
 
*Recommend Trading Plan for the day:* 
1. Buy 1299, stop 1297.5, profit 1300.5/1302/1303.5.
 
*Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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