COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 22/6/2018 - Fall of USD & escalating trade war tensions unable to push up gold price

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Publish date: Fri, 22 Jun 2018, 11:50 AM
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22/6/2018

 
*Gold Aug 18*
 
Previous Close: 1270.5 -4
 
Gold fell again and remain at 6 month low, mainly weighed down by US treasury yield, despite a fall in USD and rising trade war tensions.
 
Daily chart show gold in correction as technical indicators crossing down while candles formed lower highs & lows, but watch out for potential RSI oversold technical rebound.
 
*Classic Support & Resistance*
Resistance: 1279.9 1286.8
Support: 1252.8 1238.3
 
 *Recommend Trading Plan for the day:*
1. Look for buy signal if break above 1272.3.
2. Look for sell signal if break below 1268.4.
 
 *Margin Requirement (per lot)*
USD 3410
Micro: USD 341
 
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