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[Gold]
By seeing both EMAs position which still in a Golden Cross and the RSI indicator in the Neutral-Bullish area, Gold remains likely to continue its upward movement today.
Key Levels
1. Resistance. 2 : 4661.01
2. Resistance. 1 : 4623.38
3. Pivot : 4596.37
4. Support. 1 : 4558.74
5. Support. 2 : 4531.73
Tactical Scenario
Positive Reaction Zone: If the price holds at 4596.37, Gold is likely to move up toward 4623.38.
Momentum Extension Bias: If 4623.38 is broken, there is potential to test 4661.01.
Level Invalidation / Bias Revision
The upside bias weakens if Gold breaks below 4531.73.
Technical Summary
EMA(50) : 4594.53
EMA(200): 4541.04
RSI(14) : 59.68
Economic News Release Agenda:
From the United States the following economic data will be released:
US - Core PPI m/m - 20:30 WIB
US - Core Retail Sales m/m - 20:30 WIB
US - PPI m/m - 20:30 WIB
US - Retail Sales m/m - 20:30 WIB
US - Current Account - 20:30 WIB
US - Business Inventories m/m - 22:00 WIB
US - Existing Home Sales - 22:00 WIB
US - Beige Book - 02:00 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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