COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 31/10/2019 - Retest 1500 level

InvestorsDoctor
Publish date: Thu, 31 Oct 2019, 12:27 PM
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31/10/2019
 
*Gold Dec 19*
 
Previous Close: 1496.7 +6
 
Gold once fell to around 1483 after Federal Reserve lowered interest rates for the third time this year and indicated a pause is ahead, but strongly rebound to test 1500 level today.
 
4H chart in sideway, with technical indicators in neutral and BB in flat, wait for more breakout.
 
*Classic Support & Resistance* 
Resistance: 1511 1521
Support:  1485 1478
 
*Recommend Trading Plan for the day:* 
1. Buy 1502, stop 1500.7, profit 1503.3/1504.6/1505.9
2. Sell 1496, stop 1497.3, profit 1494.7/1493.4/1492.1
 
*Margin Requirement (per lot)* 
USD 4950
Micro: USD 495
 
Disclaimer: For idea sharing only, trade at your own risk
 
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