13/4/2018

 

Gold Jun 18

 

Previous Close: 1341.9 -18.1

 

Gold retreated from 11 week high yesterday as market continue to sell off after a hawkish FOMC meeting minutes, pressured by rebound of USD and US stock market.

 

Daily chart show gold failed to sustain break out from range high of 1365.4, pull back into range, with overall sideway to higher trend. Hourly chart show a RSI oversold rebound, and now testing middle line of BB.

 

Classic Support & Resistance 

Resistance: 1357.2 1369.4 

Support: 1334.2 1330.1 1321.7

 

 Recommend Trading Plan for the day: 

1. Buy 1343.8, stop 1342.4, profit 1345.2/1346.6

2. Look for sell signal if break below 1336.7.

 

 Margin Requirement (per lot) 

USD 3410 

Micro: USD 341

 

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