18/7/2018
*Gold Aug 18*
Previous Close: 1227.3 -12.4
Gold fell more than 1% to 1 year low as USD strengthened after testimony by US Fed Chair Powell.
Daily chart formed lower low to trigger further downside, but watch out for potential technical rebound in short term as there is a RSI bullish divergence.
*Classic Support & Resistance*
Resistance: 1239.4 1248.8
Support: 1214 1204
*Recommend Trading Plan for the day:*
1. Buy 1229.6 for technical rebound, stop 1228.1, profit 1231.1/1232.6.
2. Look for sell signal below 1226.
*Margin Requirement (per lot)*
USD 3410
Micro: USD 341
Disclaimer: Idea sharing only, trade at your own risk.
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