COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 15/5/2019 - Retreat from high, required to close above 1304 for more upside

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Publish date: Wed, 15 May 2019, 11:08 AM
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15/5/2019
 
*Gold Jun 19*
 
Previous Close: 1296.3 -5.5
 
Gold off from 1 month high as pressured by higher USD after stock market show recovery. 
 
Daily chart formed a double bottom bullish pattern, may test 38.2-61.8 Fibo retracement level of swing 1349.8-1267.3.
 
*Classic Support & Resistance* 
Resistance: 1314.7 1324.5
Support:  1278.1 1267.3
 
*Recommend Trading Plan for the day:* 
1. Sell 1294, stop 1295.3, profit 1292.7/1291.4/1290.1
2. Look for buy signal above 1304
 
*Margin Requirement (per lot)* 
USD 3740
Micro: USD 374
 
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