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GOLD
With technical conditions supporting Gold's strength as well as the heating up of geopolitical tensions, it is not surprising that Gold continues its strengthening bias.
Key Levels
1. Resistance. 2 : 4836.01
2. Resistance. 1 : 4799.50
3. Pivot : 4729.34
4. Support. 1 : 4692.83
5. Support. 2 : 4266.67
Tactical Scenario
Positive Reaction Zone: If the price breaks above 4799.50, it may move toward 4836.01.
Momentum Extension Bias: If 4836.01 is also broken, there is potential for Gold to reach 4906.17.
Level Invalidation / Bias Revision
The upside bias weakens if the price of Gold falls below 4266.67.
Technical Summary
EMA(50) : 4759.88
EMA(200): 4674.00
RSI(14) : 82.43
Economic News Release Schedule:
Later tonight, ahead of the U.S. market open, in addition to a scheduled speech by U.S. President Donald Trump at 20:30 WIB, the following economic data will be released:
AS - Pending Home Sales m/m - 22:00 WIB
AS - Construction Spending m/m - 22:00 WIB
AS - Construction Spending m/m - 22:00 WIB
AS - API Weekly Statistical Bulletin - 04:30 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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