COMEX Gold Update
25 Oct - Comex Gold Room For Downside
InvestorsDoctor
Publish date: Wed, 25 Oct 2017, 05:28 PM
InvestorsDoctor
0 1,969
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25/10/2017
Gold Dec 17
Yesterday close: 1278.3 -2.6
Gold prices dipped on yesterday as investors anxiously awaited news on the next head of the US Federal Reserve, while strong US stock markets and a calmer geopolitical environment also dragged down the gold price. Gold futures may remain weak until Friday US GDP are released, said senior market strategist at RJO Futures.
Based on hourly chart Fibo analysis, gold price may see support at 11.089 Fibo level (Ratio determined by Fibonacci Expansion), which is around 1269.7.Technical indicators show gold trend more to bearish.
Price level to watch out today:
Resistance 1282.6 1285.3
Support 1273.6 1269.7
Recommended Trading Plan Today:
1. Sell 1274.9, stop 1276, profit 1273.8/1271.8
Watch out for any rebound signal
Margin Requirement (per lot)
USD 5390
Micro: USD 539
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