COMEX Gold Update
Daily Futures Commentaries: [Comex Gold] 26/8/2019 - Break above sideway, bullish, but be cautious of overbought
InvestorsDoctor
Publish date: Mon, 26 Aug 2019, 11:47 AM
InvestorsDoctor
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26/8/2019
*Gold Dec 19*
Previous Close: 1526.6 +29.1
Gold surged 2% on last Friday as investors interpreted US Federal Reserve Chair Jerome Powell’s speech as leaning towards a dovish monetary policy stance and President Donald Trump’s latest comments exacerbated trade tensions with China.
Gold prices at its highest since Apr 2013, bullish, but be cautious as RSI in overbought.
*Classic Support & Resistance*
Resistance: 1565 1590
Support: 1530 1510
*Recommend Trading Plan for the day:*
1. Look for buy signal above 1565
*Margin Requirement (per lot)*
USD 4950
Micro: USD 495
Disclaimer: For idea sharing only, trade at your own risk
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