COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 17/10/2018 - Enter correction after a RSI bearish divergence

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Publish date: Wed, 17 Oct 2018, 11:11 AM
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17/10/2018

 
*Gold Dec 18*
 
Previous Close: 1231 +0.7
 
Gold was almost unchanged last night but fell on this morning as USD rebound after stock market recover.
 
Hourly chart showed gold entered retracement after a bearish RSI divergence and triggered a double top signal.
 
*Classic Support & Resistance* 
Resistance: 1237.8 1244.6
Support: 1219.3 1205.3
 
 *Recommend Trading Plan for the day:* 
1. Sell 1225.2, stop 1226.6, profit 1223.8/1222.4.
 
 *Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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