COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 4/12/2019 - Likely to continue rebound if able to hold above 1480 level

InvestorsDoctor
Publish date: Wed, 04 Dec 2019, 11:10 AM
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4/12/2019
 
*Gold Feb 20*
 
Previous Close: 1484.4 +15.2
 
Gold jumped more than 1% on fading optimism surrounding a US-China trade deal after US President Donald Trump said talks could extend until after the presidential elections in November 2020.
 
Hourly chart breakout from short term sideway and hit near 1 month high, may trigger rebound signal if gold prices able to sustain above 1480 level.
 
*Classic Support & Resistance* 
Resistance: 1496 1526
Support:  1459 1446
 
*Recommend Trading Plan for the day:* 
1. Sell 1481.6, stop 1482.9, profit 1480.3/1479/1477.7
2. Buy 1488, stop 1486.7, profit 1489.3/1490.6/1491.9
 
*Margin Requirement (per lot)* 
USD 4950
Micro: USD 495
 
Disclaimer: For idea sharing only, trade at your own risk
 
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