REDATOR Ben Graham Posted February 4 REDATOR Report Share Posted February 4 [Gold] With EMA(50) and EMA(200) condition forming a Golden Cross and RSI(14) in the Neutral-Bullish area, Gold is likely to strengthen toward its nearest resistance level in the near term. Key Levels1. Resistance. 2 : 5199.022. Resistance. 1 : 5072.483. Pivot : 4866.814. Support. 1 : 4740.275. Support. 2 : 4534.60Tactical ScenarioPositive Reaction Zone: If the price holds at 4866.81, Gold is likely to move up toward 5072.48.Momentum Extension Bias: If 5072.48 is broken to the upside, there is potential to reach 5199.02. Invalidation Level / Bias RevisionThe upside bias weakens if the price breaks and closes below 4534.60. Technical SummaryEMA(50) : 4922.73EMA(200): 4958.56RSI(14) : 70.46Economic News Release Agenda:Tonight, during the U.S. session, the following economic data will be released:US - ADP Non-Farm Employment Change - 20:15 WIBUS - Final Services PMI - 21:45 WIBUS - ISM Services PMI - 22:00 WIBUS - Crude Oil Inventories - 22:30 WIBThe material has been provided by InstaForex Company - www.instaforex.com Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Liked! × 💬 Did you like this content? Your feedback is very important! Liked! Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.