COMEX Gold Update
Daily Futures Commentaries: [Comex Gold] 27/8/2019 - Bullish but be careful of potential bearish reversal
InvestorsDoctor
Publish date: Tue, 27 Aug 2019, 11:29 AM
InvestorsDoctor
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27/8/2019
*Gold Dec 19*
Previous Close: 1537.2 +10.6
Gold surged to a more than 6 year peak yesterday, surpassing $1,560 in early trade, as investors sought safety from a host of uncertainties including heightened U.S.-China trade tensions and a fragile global economy.
Daily chart formed a shooting star in a bullish trend, be cautious of potential short term correction.
*Classic Support & Resistance*
Resistance: 1547 1565
Support: 1533 1512
*Recommend Trading Plan for the day:*
1. Sell 1532.5 for correction, stop 1533.8, profit 1531.2/1529.9/1528.6
2. Look for buy signal above 1550
*Margin Requirement (per lot)*
USD 4950
Micro: USD 495
Disclaimer: For idea sharing only, trade at your own risk
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