COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 9/7/2019 - Continue in sideway range, wait for more breakout

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Publish date: Tue, 09 Jul 2019, 11:11 AM
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9/7/2019
 
*Gold Aug 19*
 
Previous Close: 1400 -1
 
Gold erased its gains to test 1400 level yesterday as increasing expectations that the US Federal Reserve will not aggressively cut interest rates later this month boosted USD.
 
Hourly chart showed gold in sideway range, wait for more breakout, 1384 or 1443.
 
*Classic Support & Resistance* 
Resistance: 1410 1427
Support:  1385 1361
 
*Recommend Trading Plan for the day:* 
1. Buy 1398.3, stop 1397, profit 1399.6/1400.9/1402.2
2. Sell 1393.5, stop 1394.8, profit 1392.2/1390.9/1389.6
 
*Margin Requirement (per lot)* 
USD 4400
Micro: USD 440
 
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