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26/6/2019
*Gold Aug 19*
Previous Close: 1418.7 +0.5
Gold retreated from 6 year high around 1440 level to below 1420 on profit taking, yet the price likely supported by US Fed interest rate cut expectation.
Hourly chart formed a RSI overbought correction, close below 1400 level to trigger more downside.
*Classic Support & Resistance*
Resistance: 1429.3 1442.9
Support: 1404.3 1392.8
*Recommend Trading Plan for the day:*
1. Sell 1414 for technical correction, stop 1415.3, profit 1412.7/1411.4/1410.1
*Margin Requirement (per lot)*
USD 4070
Micro: USD 407
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