COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 10/9/2019 - Entered technical correction, more downside if below 1490

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Publish date: Tue, 10 Sep 2019, 11:42 AM
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10/9/2019
 
*Gold Dec 19*
 
Previous Close: 1511.1 -3.9
 
Gold marked 3 days of losses in a row and fell to below 1500 level today on rebound in stock market.
 
4H chart formed a breakout from double top bearish chart pattern, below 1490 will trigger more correction.
 
*Classic Support & Resistance* 
Resistance: 1515 1524
Support:  1490 1468
 
*Recommend Trading Plan for the day:* 
1. Buy 1499.4 for rebound, stop 1498.1, profit 1500.7/1502/1503.3
2. Sell 1494.2, stop 1495.5, profit 1492.9/1491.6/1490.3
 
*Margin Requirement (per lot)* 
USD 4950
Micro: USD 495
 
Disclaimer: For idea sharing only, trade at your own risk
 
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