COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 1/3/2019 - Trend is still weak, likely to test support level

InvestorsDoctor
Publish date: Fri, 01 Mar 2019, 10:56 AM
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1/3/2019

*Gold Apr 19*

Previous Close: 1316.1 -5.1

Gold fell to below 1320 yesterday on strong USD.

Hourly chart showed gold breaks 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: 1328.9 1335.6
Support: 1304.7 1295.7

*Recommend Trading Plan for the day:*
1. Sell 1314, stop 1315.3, profit 1312.7/1311.4/1310.1.
2. Buy 1318.2, stop 1316.9, profit 1319.5/1320.8/1322.1.

*Margin Requirement (per lot)*
USD 3740
Micro: USD 374

Disclaimer: Idea sharing only, trade at your own risk.

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