28/3/2018

 

Gold Jun 18

 

Previous Close: 1347.9 -8.9

 

Gold retreated from its previous gains and ended below 1350, despite weaker USD & US stock market overnight. However, weak USD in short term may further support gold price.

 

Daily chart show gold remains in a side way range wait for breakout. Hourly chart show a technical correction after a bearish divergence and now testing rebound to above middle line of BB.

 

 Classic Support & Resistance 

Resistance: 1362.6 1375.5

Support: 1345.4 1330.3

 

 Recommend Trading Plan for the day: 

1. Buy 1352.3 for a rebound, stop 1350.4, profit 1354.2/1356.1.

2. Look for sell signal if break below 1345.4.

 

 Margin Requirement (per lot) 

USD 3410 

Micro: USD 341

 

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