COMEX Gold Update
Daily Futures Commentaries: [Comex Gold] 5/12/2018 - Close above 1252 to trigger more upside
InvestorsDoctor
Publish date: Wed, 05 Dec 2018, 10:55 AM
InvestorsDoctor
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5/12/2018
*Gold Feb 19*
Previous Close: 1246.6 +7
Gold hit more than 1 month high and sustain above 1240 level on weakening USD and a sharp fall in US stock market.
Hourly chart formed a more to bullish trend, close above 1252 to trigger more upside, but technical indicators crossing down, may test for a technical correction now.
*Classic Support & Resistance*
Resistance: 1252 1265.4
Support: 1233 .1 1221.8
*Recommend Trading Plan for the day:*
1. Sell 1240.4 for technical correction, stop 1242, profit 1238.8/1237.2/1236.6.
2. Look for buy signal above 1244.8.
*Margin Requirement (per lot)*
USD 3740
Micro: USD 374
Disclaimer: Idea sharing only, trade at your own risk.
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