COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 21/3/2019 - Bullish to test 1320, watch out RSI bearish divergence

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Publish date: Thu, 21 Mar 2019, 12:31 PM
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21/3/2019

 
*Gold Apr 19*
 
Previous Close: 1301.7 -4.8
 
Gold rose to test 1320 level after US Federal Reserve kept interest rate unchanged and hint no more hike ahead this year.
 
Hourly chart formed higher highs & lows to test 61.8 Fibo retracement level of swing 1349.8-1280.8 which is around 1323.4, but watch out for potential RSI bearish divergence.
 
*Classic Support & Resistance* 
Resistance: 1328.9 1335.6
Support: 1312.3 1298
 
*Recommend Trading Plan for the day:* 
1. Buy 1319.1, stop 1317.4, profit 1320.8/1322.5/1324.2.
2. Sell 1311.8 for technical correction, stop 1313.5, profit 1310.1/1308.4/1306.7.
 
*Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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