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[GOLD]
Although RSI(14) is in the Neutral-Bullish area, but with the Death Cross formed by EMA(50) and EMA(200) suggests that Gold may decline toward its nearest support level today.
Key Levels
1. Resistance. 2 : 5065.19
2. Resistance. 1 : 4971.44
3. Pivot : 4906.44
4. Support. 1 : 4812.69
5. Support. 2 : 4747.69
Tactical Scenario
Pressure Zone: If the price breaks down below 4812.69, there is potential pressure toward 4747.69.
Momentum Extension Bias: If 4747.69 is breached to the downside, Gold could fall to 4653.94.
Invalidation Level / Bias Revision
The downside bias is restrained if the price strengthens and breaks above 5065.19.
Technical Summary
EMA(50) : 4908.60
EMA(200): 4961.75
RSI(14) : 65.57
Economic News Release Agenda:
There are no economic data releases from the United States today.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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