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1/8/2018
*Gold Dec 18*
Previous Close: 1233.6 +2.1
Gold prices rose on Tuesday, reversing early losses as the Chinese RMB strengthened against the USD after a report said that US and China were trying to restart negotiations to defuse a trade war. Watch out for FOMC decision at 2am tomorrow.
Daily chart's technical indicators pointed more to downside but testing for a technical rebound from potential RSI bullish divergence. Hourly chart showed gold in a sideway, wait for breakout.
*Classic Support & Resistance*
Resistance: 1237.8 1244.7
Support: 1221 1210
*Recommend Trading Plan for the day:*
1. Sell 1229.7, stop 1231.4, profit 1228/1226.3.
2. Look for buy signal above 1234.7.
*Margin Requirement (per lot)*
USD 3410
Micro: USD 341
Disclaimer: Idea sharing only, trade at your own risk.
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