COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 29/8/2018 - Technical correction as US treasuries up

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Publish date: Wed, 29 Aug 2018, 11:20 AM
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29/8/2018

 
*Gold Dec 18*
 
Previous Close: 1214.4 -1.6
 
Gold turned negative on yesterday as US Treasuries rose after the US and Mexico reach a trade deal.
 
Hourly chart showed a technical correction from RSI bearish divergence, may test 50% & 38.2% Fibo retracement level.
 
*Classic Support & Resistance*
Resistance: 1220.7 1228.5
Support: 1199.5 1189.5
 
 *Recommend Trading Plan for the day:*
1. Buy 1210.3 for technical rebound, stop 1209.1, profit 1211.5/1212.7.
2. Look for sell signal below 1205.8.
 
 *Margin Requirement (per lot)*
USD 3410
Micro: USD 341
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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