GOLD

Although the condition of Gold is still moving in a ranging pattern, but it has the potential to test its nearest resistance level, as confirmed by both EMAs which is forming a Golden Cross.

Key Levels

1. Resistance. 2 : 4843.55

2. Resistance. 1 : 4779.06

3. Pivot : 4708.50

4. Support. 1 : 4644.01

5. Support. 2 : 4573.45

Tactical Scenario

Positive Reaction Zone: If the price holds at 4708.50, there is a likelihood of a move up toward 4779.06.

Momentum Extension Bias: If 4779.06 is broken, 4843.55 becomes the next target.

Invalidation Level / Bias Revision

The upside bias weakens if Gold falls below 4573.45.

Technical Summary

EMA(50) : 4702.90

EMA(200): 4693.23

RSI(14) : 42.50

Economic News Release Agenda:

Tonight the United States will release the following economic data:

US - Core PPI m/m - 19:30 WIB

US - PPI m/m -19:30 WIB

US - Crude Oil Inventories - 21:30 WIB

US - 30-y Bond Auction - 00:01 WIB