COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 19/6/2018 - Escalating trade war tension drives gold price

InvestorsDoctor
Publish date: Tue, 19 Jun 2018, 11:46 AM
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19/6/2018

 
Gold Aug 18
 
Previous Close: 1280.1 +1.6
 
Gold held steadily yesterday, with a strong USD offsetting the impact on prices of an escalating trade dispute between the US and China. However, gold show some further rebound this morning after US impose additional tariffs on China.
 
Daily chart show gold rebounded from outside of BB, yet overall trend is still weak. Hourly chart show a breakout from previous sideway, may test resistance 1st.
 
Classic Support & Resistance 
Resistance: 1296.2 1313
Support: 1277.9 1268.4 
 
 Recommend Trading Plan for the day: 
1. Buy 1286.6, stop 1285.3, profit 1287.9/1289.2.
2. Look for sell signal if break below 1277.9.
 
 Margin Requirement (per lot) 
USD 3410 
Micro: USD 341
 
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