24/7/2018
Gold Aug 18
Previous Close: 1225.6 -5.5
Please be noted that Aug 18 contract will be expired by next week, traders may choose to trade Dec 18 contract. Gold slipped on yesterday, erased its previous gains as weighed down by rebound of USD.
Daily chart more to bearish and now approaching RSI oversold zone, while hourly chart showed close below 1210.7 will trigger more downside.
Classic Support & Resistance
Resistance: 1235.2 1248.8
Support: 1204 1194.5
Recommend Trading Plan for the day:
1. Look for sell signal below 1220.4.
2. Look for technical rebound buy signal above 1226.3.
Margin Requirement (per lot)
USD 3410
Micro: USD 341
Disclaimer: Idea sharing only, trade at your own risk.
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