8/8/2019
*Gold Dec 19*
Previous Close: 1519.6 +35.4
Gold rose to its highest level in more than 6 years on escalating trade tensions between US & China.
Hourly chart formed higher highs & lows, more to bullish, but watch out for potential RSI bearish divergence.
*Classic Support & Resistance*
Resistance: 1523 1538
Support: 1503 1493
*Recommend Trading Plan for the day:*
1. Buy 1522.8, stop 1521.5, profit 1524.1/1525.4/1526.7
2. Sell 1503.4 for correction, stop 1504.7, profit 1502.1/1500.8/1499.5
*Margin Requirement (per lot)*
USD 4400
Micro: USD 440
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