![](/files/my/blog/img/bl3959_gc280918_1.png)
28/9/2018
*Gold Dec 18*
Previous Close: 1187.4 -11.7
Gold fell sharply to more than 1 month low last night on firm USD after interest hike and as pressured by more to bullish US economic data.
Daily & hourly charts showed gold break down from sideway, likely to test further support level. From Fibo retracement of swing 1167.1-1220.5, gold price now testing 38.2%, which is around 1187.5, close below 1185.6 to trigger further downside.
*Classic Support & Resistance*
Resistance: 1197.7 1208.8
Support: 1178.5 1167.1
*Recommend Trading Plan for the day:*
1. Buy 1189.1 for technical rebound, stop 1187.7, profit 1190.5/1191.9.
2. Look for sell signal below 1185.6.
*Margin Requirement (per lot)*
USD 3410
Micro: USD 341
Disclaimer: Idea sharing only, trade at your own risk.
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