28/8/2018
*Gold Dec 18*
Previous Close: 1216 +2.7
Gold hovered above 1200 as the USD weakened after the US and Mexico struck an agreement that lowered trade tensions.
Hourly chart showed the gold may test the next Fibo level around 1224 but please be cautious of potential RSI bearish divergence may drag down gold price in short term.
*Classic Support & Resistance*
Resistance: 1225.6 1237.8
Support: 1209.3 1199.5
*Recommend Trading Plan for the day:*
1. Sell 1214.4 for a technical correction, stop 1215.7, profit 1213.1/1211.8.
2. Look for buy signal above 1218.9.
*Margin Requirement (per lot)*
USD 3410
Micro: USD 341
Disclaimer: Idea sharing only, trade at your own risk.
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