COMEX Gold Update

[Gold] - Short term Consolidation

InvestorsDoctor
Publish date: Fri, 05 Jan 2018, 02:37 PM
InvestorsDoctor
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Following Message
5/1/2018
 
Gold Feb 18
 
Previous close: 1321.6 +3.1
 
 
Gold eased on yesterday morning but bounce back to above 1320 level during US trading session as supported by weaker USD, despite that prospects for further US interest rate hike put a brake on recent rally.
 
Daily chart show gold in RSI overbought while hourly chart show that gold begins its correction, yet overall trend still expect to see more upside.
 
Price level to watch out today:
Resistance 1327.3 1338.2
Support 1315.4 1307.1
 
Recommended Trading Plan Today:
1. Sell 1321.7 for further correction, stop 1323.3, profit 1320.1 or below.
2. Watch out for any rebound signal to buy.
 
Margin Requirement (per lot)
USD 4400 
Micro: USD 440
 
Disclaimer: Idea for sharing purpose, trade at your own risk.
 
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