[Gold]
Buyers appear to still dominate Gold at this time, as indicated by the Golden Cross formation of the EMA(50) and EMA(200). Although there is also potential for a limited correction indicated by the RSI, as long as it does not break below Support 2, buyers remain in control.
Key Levels:
1. Resistance. 2 : 4182.30
2. Resistance. 1 : 4156.03
3. Pivot : 4132.58
4. Support. 1 : 4106.31
5. Support. 2 : 4082.86
Tactical Scenario:
Positive Reaction Zone: If the price of Gold breaks and closes above 4132.58, the next level to be tested will be 4156.03.
Momentum Extension Bias: If 4156.03 is broken, there is potential for Gold to continue its strength up to 4182.30.
Invalidation Level / Bias Revision:
The upside bias weakens if the price of Gold declines and closes below 4082.86.
Technical Summary:
EMA(50) : 4134.70
EMA(200): 4102.89
RSI(14) : 70.48
Economic News Release Agenda:
Tonight in the U.S. session, the following economic data will be released:
US - Unemployment Claims - 20:30 WIB
US - Core Durable Goods Orders m/m - 20:30 WIB
US - Durable Goods Orders m/m - 20:30 WIB
US - Chicago PMI - 21:45 WIB
US - Crude Oil Inventories - 22:30 WIB
US - Natural Gas Storage - 00:00 WIB
