![](/files/my/blog/img/bl3959_gc200718.png)
20/7/2018
*Gold Aug 18*
Previous Close: 1224 -3.9
Please be noted that Aug 18 contract will be expired by next week, traders may choose to trade Dec 18 contract. Gold once fell to near 1210 last night and rebound after US President Donald Trump said he did not approve of the Federal Reserve raising interest rates again in an interview with CNBC.
Daily chart showed more to bearish as indicators trending down, but watch out for potential technical rebound in short term as there is a RSI bullish divergence.
*Classic Support & Resistance*
Resistance: 1229.6 1248.8
Support: 1210.7 1194.5
*Recommend Trading Plan for the day:*
1. Look for sell signal below 1215.3.
2. Look for technical rebound buy signal above 1219.3.
*Margin Requirement (per lot)*
USD 3410
Micro: USD 341
Disclaimer: Idea sharing only, trade at your own risk.
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