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[Gold]
With both EMAs which still intersects the Golden Cross and the RSI in the Neutral-Bullish level, Gold has the potential to strengthen today.
Key Levels
1. Resistance. 2 : 4273.12
2. Resistance. 1 : 4254.94
3. Pivot : 4199.01
4. Support. 1 : 4171.83
5. Support. 2 : 4124.90
Tactical Scenario:
Positive Reaction Zone: If the price of XAU/USD breaks out and closes above 4254.94, it may move toward 4273.12.
Momentum Extension Bias: If 4273.12 is broken, Gold may continue its upward movement up to the level of 4320.05.
Invalidation Level / Bias Revision:
The upside bias weakens if the price of Gold declines and breaks below 4124.90.
EMA(50) : 4198.95
EMA(200): 4157.82
RSI(14) : 69.91
Economic News Release Agenda:
Tonight, the following important economic data will be released from the United States:
US - Final Manufacturing PMI - 21:45 WIB
US - ISM Manufacturing PMI - 22:00 WIB
US - ISM Manufacturing Prices - 22:00 WIB
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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