COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 4/3/2019 - More than 1 month low, bearish but watch out for RSI oversold

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Publish date: Mon, 04 Mar 2019, 11:19 AM
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4/3/2019

 
*Gold Apr 19*
 
Previous Close: 1299.2 -16.9
 
Gold fell more than 1% to below 1300, which is more than 1 month low on strong USD and rebound of stock market.
 
Hourly chart showed gold formed lower highs & lows, more to bearish, but be cautious as RSI in oversold.
 
*Classic Support & Resistance* 
Resistance: 1313.4 1335.6
Support: 1275.3 1257.1
 
*Recommend Trading Plan for the day:* 
1. Buy 1298 for technical rebound, stop 1296.5, profit 1299.5/1301/1302.5.
2. Sell 1291, stop 1292.5, profit 1289.5/1288/1286.5.
 
*Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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