10/8/2018
*Gold Dec 18*
Previous Close: 1219.9 -1.1
Gold mostly flat on yesterday, wait for more catalyst, yet strong USD likely to cap upside of gold.
Daily & hourly charts showed more to downside as candles formed lower highs & lows but there is potential technical rebound in short term as RSI in oversold plus a bullish divergence.
*Classic Support & Resistance*
Resistance: 1228.5 1237.8
Support: 1212.5 1200
*Recommend Trading Plan for the day:*
1. Buy 1221.1 for technical rebound, stop 1219.3, profit 1222.9/1224.7.
2. Look for sell signal below 1218.9.
*Margin Requirement (per lot)*
USD 3410
Micro: USD 341
Disclaimer: Idea sharing only, trade at your own risk.
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