COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 22/4/2019 - Testing technical rebound, close above 1282 for more upside

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Publish date: Mon, 22 Apr 2019, 10:57 AM
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22/4/2019
 
*Gold Jun 19*
 
Previous Close: 1276 -0.8
 
Gold testing rebound to above 1280 this morning.
 
Daily chart showed gold triggered head & shoulder bearish pattern below 1275, potentially more downside ahead, while hourly chart showed gold close above 1282 to trigger more upside.
 
*Classic Support & Resistance* 
Resistance: 1282.1 1293.1
Support:  1273 1267.4 
 
*Recommend Trading Plan for the day:* 
1. Buy 1282.2 for technical rebound, stop 1280.9, profit 1283.5/1284.8/1286.1
2. Look for sell signal below 1273
 
*Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
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