27/8/2018
*Gold Dec 18*
Previous Close: 1213.3 +19.3
Gold rose strongly on last Friday as the USD came under pressure from clues about the direction of US monetary policy from Fed Chair, which market interpreted as more to dovish.
Daily chart showed gold testing middle line of BB, wait for confirmation, while hourly chart showed a technical rebound from RSI bullish divergence.
*Classic Support & Resistance*
Resistance: 1225.6 1237.8
Support: 1189.5 1178.5
*Recommend Trading Plan for the day:*
1. Look for buy signal above 1215.4.
2. Look for sell signal below 1209.7.
*Margin Requirement (per lot)*
USD 3410
Micro: USD 341
Disclaimer: Idea sharing only, trade at your own risk.
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