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Gold
With both EMAs condition forming a Death Cross, then today Gold is likely to remain under pressure and may weaken toward its nearest support level.
Key Levels
1. Resistance. 2 : 4904.68
2. Resistance. 1 : 4812.32
3. Pivot : 4740.16
4. Support. 1 : 4674.80
5. Support. 2 : 4575.64
Tactical Scenario
Pressure Zone: If the price breaks down below 4740.16, there is potential for continued pressure toward 4674.80.
Momentum Extension Bias: If 4674.80 is also broken, Gold may test 4575.64.
Level Invalidation / Bias Revision
The downside bias is restrained if Gold strengthens and breaks above 4904.68.
Technical Summary
EMA(50) : 4754.93
EMA(200): 4782.38
RSI(14) : 57.02
Economic News Release Agenda:
From the United States, only Crude Oil Inventories will be released at 21:30 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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