4/10/2019
*Gold Dec 19*
Previous Close: 1513.8 +5.9
Gold edged higher yesterday as weak US data deepened concerns over economic growth and bolstered bets for further interest rate cuts by the Federal Reserve.
Hourly chart in testing rebound, but be cautious of potential RSI bearish divergence.
*Classic Support & Resistance*
Resistance: 1526 1543
Support: 1500 1480
*Recommend Trading Plan for the day:*
1. Buy 1515, stop 1513.7, profit 1516.3/1517.6/1518.9
2. Sell 1510.3, stop 1511.6, profit 1509/1507.7/1506.4
*Margin Requirement (per lot)*
USD 4950
Micro: USD 495
Disclaimer: For idea sharing only, trade at your own risk
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