COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 15/11/2018 - Strong rebound to test above 1210, watch out US Dollar index

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Publish date: Thu, 15 Nov 2018, 10:24 AM
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15/11/2018

 
*Gold Dec 18*
 
Previous Close: 1210.1 +8.7
 
Gold settled 1% higher on yesterday as USD retreat from high and some technical buying.
 
Hourly chart showed a technical rebound from RSI oversold with technical indicators crossing up, may test resistance 1st. The retracement now will see support in between 38.2-61.8 Fibo level around 1204-1209.
 
*Classic Support & Resistance* 
Resistance: 1217.2 1228.5
Support: 1196.6 1184.3
 
 *Recommend Trading Plan for the day:* 
1. Sell 1209.6 for retracement, stop 1211.6, profit 1207.6/1205.6.
 
 *Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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