COMEX Gold Update

[Gold Futures] - In Consolidation Price Structure, Waiting For Entry

InvestorsDoctor
Publish date: Mon, 08 Jan 2018, 02:36 PM
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8/1/2018
 
Gold Feb 18
 
Previous close: 1322.3 +0.6
 
 
Gold once dropped to below 1315 after rebound of USD, despite that US payroll data generally bearish. Gold managed to close back above 1320 near market close.
 
Daily chart show gold in RSI overbought while hourly chart show that gold begins its correction as technical indicators edging down. 
 
Price level to watch out today:
Resistance 1327.3 1338.2
Support 1314.6 1307.1
 
Recommended Trading Plan Today:
1. Wait for further entry signal.
 
Margin Requirement (per lot)
USD 4400 
Micro: USD 440
 
Disclaimer: Idea for sharing purpose, trade at your own risk.
 
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