COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 30/9/2019 - Stronger USD sent gold to test below 1500 level

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Publish date: Mon, 30 Sep 2019, 11:32 AM
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30/9/2019
 
*Gold Dec 19*
 
Previous Close: 1506.4 -8.8
 
Gold prices fell on last Friday and was on track for its third weekly fall for the month, restrained as US economic data beat expectations and USD held near multi-week highs against major currencies.
 
Hourly chart showed gold in wide range 1490-1570 but technical indicators declining, likely to test support level,, wait for more breakout.
 
*Classic Support & Resistance* 
Resistance: 1520 1543
Support:  1490 1468
 
*Recommend Trading Plan for the day:* 
1. Sell 1497.4, stop 1498.7, profit 1496.1/1494.8/1493.5
 
*Margin Requirement (per lot)* 
USD 4950
Micro: USD 495
 
Disclaimer: For idea sharing only, trade at your own risk
 
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