COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 23/7/2019 - More to bullish but cautious of bearish reversal pattern

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Publish date: Tue, 23 Jul 2019, 11:15 AM
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23/7/2019
 
*Gold Aug 19*
 
Previous Close: 1426.9 +0.2
 
Gold prices tumbled this morning to below 1420 level as market stay cautious ahead of Fed decision this month.
 
Hourly chart in a more to bullish trend, close below 1416 to trigger head & shoulder bearish pattern.
 
*Classic Support & Resistance* 
Resistance: 1432 1454
Support:  1401 1384
 
*Recommend Trading Plan for the day:* 
1. Sell 1415.5, stop 1416.8, profit 1414.2/1412.9/1411.6
2. Buy 1420.5 for rebound, stop 1419.2, profit 1421.8/1423.1/1424.4
 
*Margin Requirement (per lot)* 
USD 4400
Micro: USD 440
 
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