![](/files/my/blog/img/bl3959_gc271218.png)
27/12/2018
*Gold Feb 19*
Previous Close: 1273 -3.7
Gold pared its earlier gains to test 1270 level after a strong rebound in US stock market.
Hourly chart formed technical correction with candles now below middle line of BB, may continue to test support if MACD cross below zero. Gold price now rebound from 6.854 Fibo expansion level and retest middle line of BB, close above 1275 to trigger more upside.
*Classic Support & Resistance*
Resistance: 1282.3 1292.3
Support: 1267.4 1262.1 1256.7
*Recommend Trading Plan for the day:*
1. Look for buy signal above 1275
2. Look for sell signal below 1267.4
*Margin Requirement (per lot)*
USD 3740
Micro: USD 374
Disclaimer: Idea sharing only, trade at your own risk.
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