COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 18/4/2019 - Formed bearish H&S pattern, more downside ahead

InvestorsDoctor
Publish date: Thu, 18 Apr 2019, 10:42 AM
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18/4/2019

*Gold Jun 19*

Previous Close: 1276.8 -0.4

Gold was steady yesterday but upside was limited by stronger USD.

Daily chart showed gold triggered head & shoulder bearish pattern below 1275, potentially more downside ahead, watch out for 38.2-50 Fibo retracement level around 1258/1237.

*Classic Support & Resistance*
Resistance: 1282.1 1293.1
Support: 1267.4 1257.1

*Recommend Trading Plan for the day:*
1. Sell 1273.6, stop 1275.2, profit 1272/1270.4/1268.8

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

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

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