COMEX Gold Update
Daily Futures Commentaries: [Comex Gold] 2/8/2018 - Down lower after FOMC meeting pushed USD up
InvestorsDoctor
Publish date: Thu, 02 Aug 2018, 11:32 AM
InvestorsDoctor
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2/8/2018
*Gold Dec 18*
Previous Close: 1227.6 -6
Gold hovered near 1 year low yesterday, little changed after the Federal Reserve announced they would leave interest rates unchanged for now. Still, analysts anticipate another two rate hikes this year, and pressure from a stronger dollar kept gold lower.
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 1227.1, stop 1228.2, profit 1226/1224.9.
*Margin Requirement (per lot)*
USD 3410
Micro: USD 341
Disclaimer: Idea sharing only, trade at your own risk.
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