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[Gold]
With EMA(50) and EMA(200) condition forming a Golden Cross and RSI(14) in the Neutral-Bullish area, Gold is likely to strengthen toward its nearest resistance level in the near term.
Key Levels
1. Resistance. 2 : 5199.02
2. Resistance. 1 : 5072.48
3. Pivot : 4866.81
4. Support. 1 : 4740.27
5. Support. 2 : 4534.60
Tactical Scenario
Positive Reaction Zone: If the price holds at 4866.81, Gold is likely to move up toward 5072.48.
Momentum Extension Bias: If 5072.48 is broken to the upside, there is potential to reach 5199.02.
Invalidation Level / Bias Revision
The upside bias weakens if the price breaks and closes below 4534.60.
Technical Summary
EMA(50) : 4922.73
EMA(200): 4958.56
RSI(14) : 70.46
Economic News Release Agenda:
Tonight, during the U.S. session, the following economic data will be released:
US - ADP Non-Farm Employment Change - 20:15 WIB
US - Final Services PMI - 21:45 WIB
US - ISM Services PMI - 22:00 WIB
US - Crude Oil Inventories - 22:30 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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