COMEX Gold Update

Daily Futures Commentaries: [Comex Gold] 5/12/2019 - Likely to continue rebound if able to hold above 1480 level

InvestorsDoctor
Publish date: Thu, 05 Dec 2019, 10:46 AM
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5/12/2019
 
*Gold Feb 20*
 
Previous Close: 1480.2 -4.2
 
Gold erased some of its earlier gains as weighed down by rebound in stock market, but still manage to hold above 1480 level.
 
Hourly chart formed a retracement from RSI overbought, close below 1476 for more correction.
 
*Classic Support & Resistance* 
Resistance: 1496 1526
Support:  1465 1446
 
*Recommend Trading Plan for the day:* 
1. Buy 1482, stop 1480.7, profit 1483.3/1484.6/1485.9
2. Sell 1479, stop 1480.3, profit 1477.7/1476.4/1475.1
 
*Margin Requirement (per lot)* 
USD 4950
Micro: USD 495
 
Disclaimer: For idea sharing only, trade at your own risk
 
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