28/11/2018
*Gold Feb 19*
Previous Close: 1219.9 -8.8
Please be noted that gold active month will change by end of Nov, traders may choose to trade Feb 19 contract. Gold fell to its lowest in more than a week on yesterday as the USD rallied after comments from U.S. Federal Reserve Vice Chair raised expectations that the central bank would continue hiking interest rates.
Hourly chart continue in technical correction, testing 50% Fibo retracement level now and rebound from RSI oversold.
*Classic Support & Resistance*
Resistance: 1231.6 1236.7
Support: 1213.3 1202.4
*Recommend Trading Plan for the day:*
1. Buy 1221.3 for technical rebound, stop 1219.5, profit 1223.1/1224.9/1226.7/1228.5.
2. Look for sell signal below 1217.8.
*Margin Requirement (per lot)*
USD 3740
Micro: USD 374
Disclaimer: Idea sharing only, trade at your own risk.
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