COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 20/6/2018 - Gold price pressured by stronger USD, despite rising US trade war tension

InvestorsDoctor
Publish date: Wed, 20 Jun 2018, 11:20 AM
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20/6/2018

*Gold Aug 18*

Previous Close: 1278.6 -1.5

Gold fell to its lowest in nearly 6 months as a higher USD overwhelmed fears of trade war. Watch out for Fed Chair Powell Speaks tonight at 930pm.

Daily chart show gold more to bearish as candles below middle line of BB, RSI approaching oversold and MACD crossing down. There is a bullish RSI divergence in hourly chart, may trigger some technical rebound.

*Classic Support & Resistance*
Resistance: 1286.8 1286.2
Support: 1262.3 1252.8

*Recommend Trading Plan for the day:*
1. Look for rebound buy signal if break above 1279.9.
2. Look for sell signal if break below 1272.6.

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

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