5/3/2019
*Gold Apr 19*
Previous Close: 1287.5 -11.7
Gold dipped to a more than 5 week low yesterday on optimism about a possible trade deal between the US and China.
Hourly chart showed gold formed lower highs & lows, more to bearish, but be cautious of potential RSI bullish divergence.
*Classic Support & Resistance*
Resistance: 1298.1 1313.4
Support: 1275.3 1257.1
*Recommend Trading Plan for the day:*
1. Buy 1291 for technical rebound, stop 1289.6, profit 1292.4/1293.8/1295.2/1296.6.
2. Sell 1283.7, stop 1285.1, profit 1282.3/1280.9/1279.5/1278.1
*Margin Requirement (per lot)*
USD 3740
Micro: USD 374
Disclaimer: Idea sharing only, trade at your own risk.
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