COMEX Gold Update
19 Oct - COMEX Gold RSI in Oversold
InvestorsDoctor
Publish date: Thu, 19 Oct 2017, 05:37 PM
InvestorsDoctor
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19/10/2017
Gold Dec 17
Yesterday close: 1283 -4
Gold again pared losses and closed lower amid stronger USD and bullish US stock market that closed at historical new high.
Based on hourly chart Fibo analysis, gold price unable to sustain above 0.786 Fibo level and formed lwoer high & low, likely testing previous low at 1262.80. RSI show rebound from oversold zone and MACD crossed up from negative zone, signal a potential technical rebound for gold, watch out for higher high & low rebound signal.
Price level to watch out today:
Resistance 1285.4 1290.8
Support 1271 1262.8
Recommended Trading Plan Today:
1. Buy 1280.2 with stop at 1278.6 for a technical rebound, take profit at 1282/1283
Margin Requirement
USD 5390
Micro: USD 539
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