COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 21/12/2018 - New high since July, rebound continue with possible profit taking in short term

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Publish date: Fri, 21 Dec 2018, 11:01 AM
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21/12/2018

 
*Gold Feb 19*
 
Previous Close: 1267.9 +11.5
 
Gold jumped 1% yesterday as boosted by weakening USD and a sharp fall in US stock market.
 
Hourly chart formed a V shape rebound from 1245 level and hit the highest since July, now down for profit taking. 
 
*Classic Support & Resistance* 
Resistance: 1270.3 1284.1
Support: 1256.7 1245.3
 
 *Recommend Trading Plan for the day:* 
1. If price retrace 1st, look for buy signal around 1255, which is 61.8 Fibo retracement level of swing 1245.3-1270.3.
2. Look for buy signal above 1270.3.
 
 *Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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