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[Gold]
With EMA(50) and EMA(200) condition forming a Death Cross intersection, even though RSI(14) is in the Neutral-Bullish area, Gold is likely to be under significant pressure today.
Key Levels
1. Resistance. 2 : 5538.05
2. Resistance. 1 : 5313.00
3. Pivot : 5154.42
4. Support. 1 : 4929.37
5. Support. 2 : 4770.79
Tactical Scenario
Pressure Zone: If the price breaks down below 4929.37, there is potential pressure toward 4770.79.
Momentum Extension Bias: If 4770.79 is broken, Gold could move down to 4545.74.
Invalidation Level / Bias Revision
The downside bias is restrained if Gold strengthens and breaks above 5538.05.
Technical Summary
EMA(50) : 5183.45
EMA(200): 5221.51
RSI(14) : 53.46
Economic News Release Schedule:
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
US - Beige Book - 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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