COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 30/11/2018 - Testing to hold above 1230, watch out for technical correction

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Publish date: Fri, 30 Nov 2018, 10:37 AM
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30/11/2018

 
*Gold Feb 19*
 
Previous Close: 1230.4
 
Gold was little changed yesterday but retreat from high of near 1235 after FOMC meeting minutes affirmed rate hike for Dec 18.
 
Hourly chart showed a retracement from swing 1216.8-1234.7, close below 38.2% which is around 1223.6 to trigger more downside.
 
*Classic Support & Resistance* 
Resistance: 1236.7 1245
Support: 1216.8 1213.3 1202.4
 
 *Recommend Trading Plan for the day:* 
1. Look for buy signal above 1234.9.
2. Look for sell signal below 1225
 
 *Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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