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21/6/2019
*Gold Aug 19*
Previous Close: 1396.9 +48.1
Gold prices surged to more than 5 year high and hit above 1400 for the 1st time since Aug 2013, following the US Fed left interest rates unchanged but opened the door for a possible rate cut in the future and the 10-year Treasury yield also slipped below 2% for the first time since Nov 2016 .
Hourly chart showed a strong bullish trend but be cautious as RSI in overbought.
*Classic Support & Resistance*
Resistance: 1434 1455
Support: 1381.5 1361.3
*Recommend Trading Plan for the day:*
1. Buy 1415.5, stop 1414.2, profit 1416.8/1418.1/1419.4
2. Sell 1406.5 for technical correction, stop 1407.8, profit 1405.2/1403.9/1402.6
*Margin Requirement (per lot)*
USD 3740
Micro: USD 374
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