![](/files/my/blog/img/bl3959_gc230719.png)
23/7/2019
*Gold Aug 19*
Previous Close: 1426.9 +0.2
Gold prices tumbled this morning to below 1420 level as market stay cautious ahead of Fed decision this month.
Hourly chart in a more to bullish trend, close below 1416 to trigger head & shoulder bearish pattern.
*Classic Support & Resistance*
Resistance: 1432 1454
Support: 1401 1384
*Recommend Trading Plan for the day:*
1. Sell 1415.5, stop 1416.8, profit 1414.2/1412.9/1411.6
2. Buy 1420.5 for rebound, stop 1419.2, profit 1421.8/1423.1/1424.4
*Margin Requirement (per lot)*
USD 4400
Micro: USD 440
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