12/7/2018
*Gold Aug 18*
Previous Close: 1244.4 -11
Gold fell to below 1250 as US threats of tariffs on an additional $200 billion of Chinese goods sent USD higher.
Daily chart show gold likely to retest previous low of around 1238 as technical indicators pointed more to downside, but be cautious as there is a potential RSI bullish divergence in hourly chart, may trigger technical rebound in short term.
*Classic Support & Resistance*
Resistance: 1257.3 1266.9
Support: 1238.8 1227.5
*Recommend Trading Plan for the day:*
1. Buy 1244.1 for technical rebound, stop 1242.8, profit 1245.4/1246.7.
2. Look for sell signal below 1241.4.
*Margin Requirement (per lot)*
USD 3410
Micro: USD 341
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