COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 4/7/2018 - Strong rebound after USD weakening

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Publish date: Wed, 04 Jul 2018, 11:40 AM
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4/7/2018

 
*Gold Aug 18*
 
Previous Close: 1253.5 +11.8
 
Gold recovered from previous losses as USD eased.
 
Daily chart show a technical rebound from RSI oversold, may test middle line of BB around 1276, but hourly chart now in RSI overbought, may see some profit taking ahead of US holiday.
 
*Classic Support & Resistance*
Resistance: 1274.4 1286.8
Support: 1246.9 1238.8
 
 *Recommend Trading Plan for the day:*
1. Look for buy signal above 1261.7.
 
 *Margin Requirement (per lot)*
USD 3410
Micro: USD 341
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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