COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 1/6/2018 - Gold dipped despite retreat of USD & US stock market

InvestorsDoctor
Publish date: Fri, 01 Jun 2018, 02:15 PM
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1/6/2018

*Gold Aug 18*

Previous Close: 1304.7 -1.8

Gold dropped slightly on yesterday despite a retreat from USD and losses in stock market after US President impose tariffs on metal imports from Canada, Mexico and EU.

Daily chart trade below middle line of BB while MACD & RSI are more to downside, required price to close above 1312.6 to trigger further rebound signal. Hourly chart show gold still in range (1296.6-1312.6), wait for breakout.

*Classic Support & Resistance*
Resistance: 1312.6 1320.8
Support: 1296.6 1286.8

*Recommend Trading Plan for the day:*
1. Trade in range 1296-1313, wait for more breakout signal.

*Margin Requirement (per lot)*
USD 3410
Micro: USD 341

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