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Gold
With all technical conditions showing significant strengthening such as both EMAs in a Golden Cross and the RSI indicator at the Extreme-Bullish level — the opportunity for Gold to strengthen throughout today is wide open.
Key Levels
1. Resistance. 2 : 4440.13
2. Resistance. 1 : 4386.06
3. Pivot : 4374.82
4. Support. 1 : 4293.75
5. Support. 2 : 4225.51
Tactical Scenario
Positive Reaction Zone: If the price of Gold breaks out above 4374.82, it has the potential to move toward 4386.06.
Momentum Extension Bias: If 4386.06 is broken, there is a chance for Gold to continue its strengthening up to 4440.13.
Invalidation Level / Bias Revision
The upside bias weakens if Gold weakens today and breaks below 4225.51.
Technical Summary
EMA(50) : 4361.70
EMA(200): 4378.00
RSI(14) : 74.98
Economic News Release Agenda:
Tonight the United States will release the following economic data:
US - ISM Manufacturing PMI - 22:00 WIB
US - ISM Manufacturing Prices - 22:00 WIB
US - Wards Total Vehicle Sales - All Days
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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