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GOLD
With all technical indicators pointing to strengthening, then Gold has the potential to strengthen today, rising towards its nearest resistance level.
Key Levels
1. Resistance. 2 : 5304.28
2. Resistance. 1 : 5241.65
3. Pivot : 5127.27
4. Support. 1 : 5064.64
5. Support. 2 : 4950.26
Tactical Scenario
Positive Reaction Zone: If the price holds at the pivot level of 5127.27, gold will likely rise towards 5241.65
Momentum Extension Bias: If 5241.65 is successfully broken, gold will strengthen towards 5304.28
Invalidation Level / Bias Revision
Upside bias weakens when gold breaks below 4950.26
Technical Summary
EMA(50) : 5134.61
EMA(200): 5008.79
RSI(14) : 81.50
Economic News Release Agenda:
Tonight, the United States will release the following economic data:
US - Crude Oil Inventories - 10:30 PM WIB
US - Federal Funds Rate - 2:00 AM 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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