COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 1/8/2018 - Watch out for Fed interest rate decision tomorrow 2am!!!

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Publish date: Wed, 01 Aug 2018, 12:31 PM
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1/8/2018

 
*Gold Dec 18*
 
Previous Close: 1233.6 +2.1
 
Gold prices rose on Tuesday, reversing early losses as the Chinese RMB strengthened against the USD after a report said that US and China were trying to restart negotiations to defuse a trade war. Watch out for FOMC decision at 2am tomorrow.
 
Daily chart's technical indicators pointed more to downside but testing for a technical rebound from potential RSI bullish divergence. Hourly chart showed gold in a sideway, wait for breakout.
 
*Classic Support & Resistance*
Resistance: 1237.8 1244.7
Support: 1221 1210
 
 *Recommend Trading Plan for the day:*
1. Sell 1229.7, stop 1231.4, profit 1228/1226.3.
2. Look for buy signal above 1234.7.
 
 *Margin Requirement (per lot)*
USD 3410
Micro: USD 341
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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