COMEX Gold Update
16 Oct - As Expected, Gold moving Higher High
InvestorsDoctor
Publish date: Mon, 16 Oct 2017, 05:51 PM
InvestorsDoctor
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16/10/2017
Gold Dec 17
Yesterday close: 1304.60 +8.1
Gold set for another rally last Friday, price closed above 1300 psychological level, as pushed up by drop by fall of US dollar index & US bond yields and supported by tension over Iraq & Kurdistan.
Based on hourly chart Fibo analysis, gold price managed to sustain above 0.618 level which is around 1301. Following fibo level will be see at around 1313 & 1324. With higher highs & lows formed, gold remains in rebound stage.
Price level to watch out today:
Resistance 1307 1317
Support 1300.6 1291.8
Recommended trading plan today:
1. Buy at higher high 1307 with stop at 1303
Margin Requirement
Comex Gold : USD 5390
Micro Gold : USD 539
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