COMEX Gold Update
[Gold] - Rise on Weakening USD
InvestorsDoctor
Publish date: Tue, 02 Jan 2018, 11:41 AM
InvestorsDoctor
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2/1/2018
Gold Feb 18
Previous close: 1309.3 +12.1
Gold hit a 1 month high on last week and ended the year with its biggest annual rise since 2010 as weakening dollar, political tensions and receding concerns over the impact of US interest rate hikes fed into its rally.
Hourly chart show more to bullish technical indicators, price likely to go higher, but be cautious as RSI in overbought now, may trigger a short term correction.
Price level to watch out today:
Resistance 1319.8
Support 1204.3 1298.4
Recommended Trading Plan Today:
1. Buy higher high 1309.9, stop 1307.2, profit 1312.6.
2. Sell 1307.2 for overbought correction, stop 1309.9, profit 1304.5.
Margin Requirement (per lot)
USD 4400
Micro: USD 440
Disclaimer: Idea for sharing purpose, trade at your own risk.
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