COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 28/2/2019 - Bearish as price below 38.2 Fibo retracement level

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Publish date: Thu, 28 Feb 2019, 11:08 AM
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28/2/2019

 
*Gold Apr 19*
 
Previous Close: 1321.2 -7.3
 
Gold ended lower as pressured by a firmer USD. 
 
Hourly chart showed gold breaks down from previous support and test below 38.2 Fibo retracement level of swing 1304.7-1349.8, potentially more downside ahead but be cautious as RSI approaching oversold.
 
*Classic Support & Resistance* 
Resistance: 1332.4 1335.6 1340.1
Support: 1314.3 1304.7
 
*Recommend Trading Plan for the day:* 
1. Sell 1318, stop 1319.4, profit 1316.6/1315.2.
2. Buy 1323, stop 1321.6, profit 1324.4/1325.8/1327.2.
 
*Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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