1/3/2019
*Gold Apr 19*
Previous Close: 1316.1 -5.1
Gold fell to below 1320 yesterday on strong USD.
Hourly chart showed gold breaks below 38.2 Fibo retracement level of swing 1304.7-1349.8, potentially more downside ahead but be cautious as RSI approaching oversold.
*Classic Support & Resistance*
Resistance: 1328.9 1335.6
Support: 1304.7 1295.7
*Recommend Trading Plan for the day:*
1. Sell 1314, stop 1315.3, profit 1312.7/1311.4/1310.1.
2. Buy 1318.2, stop 1316.9, profit 1319.5/1320.8/1322.1.
*Margin Requirement (per lot)*
USD 3740
Micro: USD 374
Disclaimer: Idea sharing only, trade at your own risk.
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