COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 22/7/2019 - More to bullish but cautious of bearish reversal pattern

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Publish date: Mon, 22 Jul 2019, 11:36 AM
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22/7/2019
 
*Gold Aug 19*
 
Previous Close: 1426.7 -1.4
 
Gold prices erased its gains from above 1450 but still higher than previous trading session.
 
Hourly chart formed higher highs & lows, more to bullish, but watch out for potential bearish candlestick pattern in daily chart.
 
*Classic Support & Resistance* 
Resistance: 1443 1454
Support:  1415 1401
 
*Recommend Trading Plan for the day:* 
1. Buy 1429.7, stop 1428.4, profit 1431/1432.3/1433.6
2. Sell 1421, stop 1422.3, profit 1419.7/1418.4/1417.1
 
*Margin Requirement (per lot)* 
USD 4400
Micro: USD 440
 
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