COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 16/8/2018 - Fell to more than 1 and half year low on strong USD after a decline in Turkish Lira

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Publish date: Thu, 16 Aug 2018, 11:31 AM
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16/8/2018

 
*Gold Dec 18*
 
Previous Close: 1185 -15.7
 
Gold fell to a more than 18-month low on Wednesday as USD climbed to its highest in over a year on concerns about global market contagion triggered by recent declines in the Turkish Lira.
 
Daily & hourly charts formed lower high & low waves, more to bearish, and now testing rebound from RSI oversold.
 
*Classic Support & Resistance*
Resistance: 1194.5 1205.8
Support: 1167.1 1147.3
 
 *Recommend Trading Plan for the day:*
1. Buy 1180.6 for technical rebound, stop 1178.8, profit 1182.4/1184.2.
 
 *Margin Requirement (per lot)*
USD 3410
Micro: USD 341
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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