16/8/2018
*Gold Dec 18*
Previous Close: 1185 -15.7
Gold fell to a more than 18-month low on Wednesday as USD climbed to its highest in over a year on concerns about global market contagion triggered by recent declines in the Turkish Lira.
Daily & hourly charts formed lower high & low waves, more to bearish, and now testing rebound from RSI oversold.
*Classic Support & Resistance*
Resistance: 1194.5 1205.8
Support: 1167.1 1147.3
*Recommend Trading Plan for the day:*
1. Buy 1180.6 for technical rebound, stop 1178.8, profit 1182.4/1184.2.
*Margin Requirement (per lot)*
USD 3410
Micro: USD 341
Disclaimer: Idea sharing only, trade at your own risk.
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