5/6/2018
Gold Aug 18
Previous Close: 1297.3 -2
Gold traded in a tight range and settled slightly lower as market stay cautious ahead of possible interest hike on this month.
Daily chart trade below middle line of BB while MACD & RSI are more to downside, showed gold in correction, required price to close above 1312.6 to trigger further rebound signal. Hourly chart show gold still in range (1291.4-1307.2), wait for breakout.
Classic Support & Resistance
Resistance: 1302.3 1307.2
Support: 1291.4 1286.7
Recommend Trading Plan for the day:
1. Trade in range 1290-1310.
Margin Requirement (per lot)
USD 3410
Micro: USD 341
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