COMEX Gold Update
24 Oct - COMEX Gold Bias to The Sell
InvestorsDoctor
Publish date: Tue, 24 Oct 2017, 06:20 PM
InvestorsDoctor
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24/10/2017
Gold Dec 17
Yesterday close: 1280.9 +0.4
Gold price closed with little change yesterday, but rebound from low of 1273.6 after US stock market pared its gains on profit taking. Gold price is under pressure from expectations that Japan's ultra-loose monetary policy would stay in place after Prime Minister Shinzo Abe's election victory at the weekend lifted the dollar to a three-month high versus the yen.
Based on hourly chart, gold price is still trending downside with no strong signal of rebound as the price stay below 1300. Both RSI & MACD crossing up, may test previous high of 1292.9.
Price level to watch out today:
Resistance 1292.9
Support 1273.6
Recommended Trading Plan Today:
1. Buy 1285.4 with stop 1281.7, profit 1289.1
2. Sell 1281.7 with stop 1285.4, profit 1278
Margin Requirement (per lot)
USD 5390
Micro: USD 539
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