[Gold]
Because RSI(14) is in the Neutral-Bullish level and both EMAs are in a Golden Cross intersection, then the potential for continuing its strengthening bias towards the nearest Resistance is quite large.
Key Levels
1. Resistance. 2 : 4817.28
2. Resistance. 1 : 4743.24
3. Pivot : 4612.76
4. Support. 1 : 4538.72
5. Support. 2 : 4408.24
Tactical Scenario
Positive Reaction Zone: If the price stays above 4743.24, there is a likelihood of an advance toward 4817.28.
Momentum Extension Bias: If 4817.28 is broken to the upside, Gold has the potential to test 4947.76.
Invalidation Level / Bias Revision
The upside bias weakens if Gold falls and breaks below 4408.24.
Technical Summary
EMA(50) : 4625.47
EMA(200): 4550.28
RSI(14) : 60.73
Economic News Release Agenda:
Tonight the United States will release the following economic data:
US - ADP Non-Farm Employment Change - 19:15 WIB
US - Core Retail Sales m/m - 19:30 WIB
US - Retail Sales m/m - 19:30 WIB
US - Final Manufacturing PMI - 20:45 WIB
US - ISM Manufacturing PMI - 21:00 WIB
US - Business Inventories m/m - 21:00 WIB
US - Wards Total Vehicle Sales - All days
US - Crude Oil Inventories - 21:30 WIB
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