![](/files/my/blog/img/bl3959_gc100119.png)
10/1/2019
*Gold Feb 19*
Previous Close: 1292 +6.1
Gold boosted to above 1290 as USD retreat from high. Watch out for Fed Chair speech on 1am tomorrow.
Hourly chart formed a double bottom from around 1280 which is also Fibo extension level and now retest 1300. Technical indicators crossing up and RSI approaching overbought zone.
*Classic Support & Resistance*
Resistance: 1300.4 1313
Support: 1288.8 1278.1
*Recommend Trading Plan for the day:*
1. Buy 1296, stop 1294.5, profit 1297.5/1299.
2. Look for sell signal if unable to sustain above 1300.
*Margin Requirement (per lot)*
USD 3740
Micro: USD 374
Disclaimer: Idea sharing only, trade at your own risk.
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