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[Gold]
With all Gold technical indicators condition showing the strengthening, the opportunity for Gold to rise toward its nearest resistance level is wide open today.
Key Levels
1. Resistance. 2 : 5120.36
2. Resistance. 1 : 5072.65
3. Pivot : 5030.19
4. Support. 1 : 4982.48
5. Support. 2 : 4940.02
Tactical Scenario
Positive Reaction Zone: If Gold breaks above 5072.65, there is potential for a rise toward 5120.36.
Momentum Extension Bias: If 5120.36 is breached, Gold could continue higher to 5162.82.
Invalidation Level / Bias Revision
The upside bias weakens if Gold falls and closes below 4940.02.
Technical Summary
EMA(50) : 5033.26
EMA(200): 4990.95
RSI(14) : 58.41
Economic News Release Agenda:
Tonight the United States will release the following economic data:
US - Average Hourly Earnings m/m - 20:30 WIB
US - Non-Farm Employment Change - 20:30 WIB
US - Unemployment Rate - 20:30 WIB
US - Crude Oil Inventories - 22:30 WIB
US - 10-y Bond Auction - 01:01 WIB
US - Federal Budget Balance - 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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