COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 31/10/2018 - Enter correction after a RSI bearish divergence

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Publish date: Wed, 31 Oct 2018, 11:15 AM
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31/10/2018

 
*Gold Dec 18*
 
Previous Close: 1225.3 -2.3
 
Gold price dipped on yesterday as concerns about a further escalation in the U.S.-China trade war boosted the USD.
 
Hourly chart showed gold retreat to below 1230 after a RSI bearish divergence, likely to test previous support.
 
*Classic Support & Resistance* 
Resistance: 1228.8 1234 1238.3
Support: 1219.3 1208.6
 
 *Recommend Trading Plan for the day:* 
1. Sell 1221, stop 1222.7, profit 1219.3/1217.6.
 
 *Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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