COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 7/11/2019 - Testing technical rebound, wait for more breakout

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Publish date: Thu, 07 Nov 2019, 11:13 AM
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7/11/2019
 
*Gold Dec 19*
 
Previous Close: 1493.1 +9.4
 
Gold prices firmed on yesterday, slightly recovering from a 2% decline in the previous session on technical buying and uncertainty over US-China trade deal.
 
4H chart in sideway and testing rebound from RSI oversold, wait for more breakout.
 
*Classic Support & Resistance* 
Resistance: 1526 1543
Support:  1465 1442
 
*Recommend Trading Plan for the day:* 
1. Sell 1491, stop 1492.3, profit 1489.7/1488.4/1487.1
2. Buy 1493.4, stop 1492.1, profit 1494.7/1496/1497.3
 
*Margin Requirement (per lot)* 
USD 4950
Micro: USD 495
 
Disclaimer: For idea sharing only, trade at your own risk
 
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