11/7/2019
*Gold Aug 19*
Previous Close: 1412.5 +12
Gold jumped to above 1420 level today as USD slid after US Federal Reserve Chairman Powell fanned expectations of an interest rate cut.
Hourly chart showed gold in sideway range, wait for more breakout, 1384 or 1443, watch out as RSI in overbought zone now.
*Classic Support & Resistance*
Resistance: 1430 1443
Support: 1415 1405
*Recommend Trading Plan for the day:*
1. Buy 1429.5, stop 1428.2, profit 1430.8/1432.1/1433.4
2. Sell 1422.3 for technical correction, stop 1423.6, profit 1421/1419.7/1418.4
*Margin Requirement (per lot)*
USD 4400
Micro: USD 440
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