20/12/2018
*Gold Feb 19*
Previous Close: 1256.4 +2.8
Gold gave up earlier gains after US raised interest rate and more to hawkish outlook on rate hike next year.
Hourly chart formed a sharp retracement after a RSI bearish divergence, now testing 38.2 Fibo retracement level of swing 1236.5-1262.2. Close below 1246 to trigger more sell signal.
*Classic Support & Resistance*
Resistance: 1262.2 1284.1
Support: 1236.5 1221.8
*Recommend Trading Plan for the day:*
1. Look for buy signal above 1250.3.
2. Look for sell signal below 1245.3.
*Margin Requirement (per lot)*
USD 3740
Micro: USD 374
Disclaimer: Idea sharing only, trade at your own risk.
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