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[Gold]
If we look at the position of EMA(50) which is above the EMA(200) and the RSI(14) in the Neutral-Bullish area, today XAU/USD has the potential to test its nearest resistance levels
Key Levels
1. Resistance. 2 : 4366.14
2. Resistance. 1 : 4333.98
3. Pivot : 4302.51
4. Support. 1 : 4270.35
5. Support. 2 : 4238.88
Tactical Scenario:
Positive Reaction Zone: If the price of Gold breaks above 4302.51, it will have the opportunity to test 4333.98.
Momentum Extension Bias: If 4333.98 is broken, then XAU/USD will try to test 4366.14.
Invalidation Level / Bias Revision:
The upside bias weakens if the price of XAU/USD drops and closes below 4238.88.
Technical Summary:
EMA(50) : 4307.08
EMA(200): 4286.30
RSI(14) : 60.97
Economic News Release Agenda:
Tonight from the United States, only one economic data release is scheduled which is Crude Oil Inventories on 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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