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4/6/2019
*Gold Aug 19*
Previous Close: 1327.9 +22.1
Gold climbed more than 1.5% on Monday to 3 month high on concerns that US - China trade tensions and threat of tariffs on Mexico would hurt the global economy.
Hourly chart formed higher highs & lows after double bottom bullish pattern but be cautious as RSI in overbought.
*Classic Support & Resistance*
Resistance: 1335.6 1349.8
Support: 1317.6 1310.9
*Recommend Trading Plan for the day:*
1. Sell 1328.2 for technical correction, stop 1329.7, profit 1326.7/1325.2/1323.7
2. Look for buy signal above 1333
*Margin Requirement (per lot)*
USD 3740
Micro: USD 374
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