COMEX Gold Update
Daily Futures Commentaries: [Comex Gold] 20/8/2018 - Potential technical rebound in short term but likely to be weighed by strong USD
InvestorsDoctor
Publish date: Mon, 20 Aug 2018, 12:24 PM
InvestorsDoctor
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20/8/2018
*Gold Dec 18*
Previous Close: 1184.2 +0.2
Gold traded in flat on last Friday but still below 1200 at a more than 18-month low on pressure of strong USD. Continue to watch out movement of USD.
Weekly chart showed consecutive weeks of losses, more to bearish but now in RSI oversold, may trigger technical rebound in short term. Daily also showed the same, in RSI oversold plus a potential bullish divergence.
*Classic Support & Resistance*
Resistance: 1205.8 1217.2
Support: 1178.5 1167.1
*Recommend Trading Plan for the day:*
1. Buy 1193.3 for technical rebound, stop 1192.1, profit 1194.5/1195.7.
2. Look for sell signal below 1189.6.
*Margin Requirement (per lot)*
USD 3410
Micro: USD 341
Disclaimer: Idea sharing only, trade at your own risk.
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