COMEX Gold Update

[Gold Futures] - Awaiting Breakout, FOMC meeting on Next Week

InvestorsDoctor
Publish date: Fri, 16 Mar 2018, 02:37 PM
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16/3/2018
 
Gold Apr 18
 
Previous Close: 1317.8 -7.8
 
 
Gold slipped on yesterday as pressured by stronger USD after economic data show bullish jobless claims result.
 
Both daily & hourly charts show a sideway trend, wait for breakout. However, daily chart's technical indicators still weakening, expect to cap upside of gold.
 
 Price Level to monitor today: 
Resistance: 1319.5 1326.4 1330.5
Support: 1313.2 1309 1303.6
 
 Recommend Trading Plan for the day: 
1. Buy 1317 for a technical rebound, stop 1315.6, profit 1318.4/1319.8.
2. Look for sell signal if break below 1313.5.
 
 Margin Requirement (per lot) 
USD 3850 
Micro: USD 385
 
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