COMEX Gold Update

20 Oct - COMEX Gold Retraced from High as Global Sentiment Recovered

InvestorsDoctor
Publish date: Fri, 20 Oct 2017, 05:34 PM
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20/10/2017
 
Gold Dec 17
 
Yesterday close: 1290 +7

 

Gold recovered from losses yesterday as global market index fell with sudden during day session. The drop of USD index and US 10 years treasury yields  also supported the gold price. But as market sentiment today start recovering, gold price retraces from high of around 1293.

Based on hourly chart Fibo analysis, gold price retraces from 0.5 level of recent swing, while MACD testing cross down, may retest previous low of 1277.6.
 
Price level to watch out today:
Resistance 1293 1298.5
Support 1277.6 1271
 
Watch out for further entry signal
 
Margin Requirement
USD 5390 
Micro: USD 539
 
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