9/8/2018
*Gold Dec 18*
Previous Close: 1221 +2.7
Gold settled with small gains and retest above 1220 level on trade war tension, but firm USD and expectation of rising interest likely to cap upside of gold.
Daily & hourly charts showed more to downside as candles formed lower highs & lows but there is potential technical rebound in short term as RSI in oversold plus a bullish divergence.
*Classic Support & Resistance*
Resistance: 1228.5 1237.8
Support: 1212.5 1200
*Recommend Trading Plan for the day:*
1. Look for buy signal above 1224.4.
2. Look for sell signal below 1220.1.
*Margin Requirement (per lot)*
USD 3410
Micro: USD 341
Disclaimer: Idea sharing only, trade at your own risk.
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