COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 26/6/2019 - Retreat from 6 year high for technical correction

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Publish date: Wed, 26 Jun 2019, 10:36 AM
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26/6/2019
 
*Gold Aug 19*
 
Previous Close: 1418.7 +0.5
 
Gold retreated from 6 year high around 1440 level to below 1420 on profit taking, yet the price likely supported by US Fed interest rate cut expectation.
 
Hourly chart formed a RSI overbought correction, close below 1400 level to trigger more downside.
 
*Classic Support & Resistance* 
Resistance: 1429.3 1442.9
Support:  1404.3 1392.8
 
*Recommend Trading Plan for the day:* 
1. Sell 1414 for technical correction, stop 1415.3, profit 1412.7/1411.4/1410.1
 
*Margin Requirement (per lot)* 
USD 4070
Micro: USD 407
 
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