COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 5/8/2019 - Break new high, bullish but watch out for RSI bearish divergence

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Publish date: Mon, 05 Aug 2019, 12:01 PM
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5/8/2019
 
*Gold Dec 19*
 
Previous Close: 1457.5 +25.1
 
Gold surged for more than 20 dollars on last Friday as boosted by escalating trade tensions between US & China.
 
Hourly chart break out from sideway with new highs, more to bullish, but watch out for potential RSI bearish divergence.
 
*Classic Support & Resistance* 
Resistance: 1480 1500
Support:  1450 1440
 
*Recommend Trading Plan for the day:* 
1. Buy 1468.4, stop 1467.1, profit 1469.7/1471/1472.3
 
*Margin Requirement (per lot)* 
USD 4400
Micro: USD 440
 
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