COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 31/1/2019 - Bullish but watch out for potential RSI bearish divergence

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Publish date: Thu, 31 Jan 2019, 10:41 AM
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31/1/2019

 
*Gold Apr 19*
 
Previous Close: 1315.2 +5.9
 
Gold rose yesterday to more than 7 months high after the Federal Reserve kept benchmark interest rates unchanged and hinted at a slower pace of monetary policy tightening.
 
Daily chart formed more to bullish trend, focus on buy setup but trade with cautious as there is a potential RSI bearish divergence.
 
*Classic Support & Resistance* 
Resistance: 1332.4 1343.4
Support: 1313.5 1301.8
 
*Recommend Trading Plan for the day:* 
1. Look for buy signal above 1328.6.
2. Look for technical correction sell signal below 1320.
 
*Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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