Gold still has the potential to continue its strengthening bias today.

[Ben Graham]

[Gold]

By seeing both EMAs position which still in a Golden Cross and the RSI indicator in the Neutral-Bullish area, Gold remains likely to continue its upward movement today.

Key Levels

1. Resistance. 2 : 4661.01

2. Resistance. 1 : 4623.38

3. Pivot : 4596.37

4. Support. 1 : 4558.74

5. Support. 2 : 4531.73

Tactical Scenario

Positive Reaction Zone: If the price holds at 4596.37, Gold is likely to move up toward 4623.38.

Momentum Extension Bias: If 4623.38 is broken, there is potential to test 4661.01.

Level Invalidation / Bias Revision

The upside bias weakens if Gold breaks below 4531.73.

Technical Summary

EMA(50) : 4594.53

EMA(200): 4541.04

RSI(14) : 59.68

Economic News Release Agenda:

From the United States the following economic data will be released:

US - Core PPI m/m - 20:30 WIB

US - Core Retail Sales m/m - 20:30 WIB

US - PPI m/m - 20:30 WIB

US - Retail Sales m/m - 20:30 WIB

US - Current Account - 20:30 WIB

US - Business Inventories m/m - 22:00 WIB

US - Existing Home Sales - 22:00 WIB

US - Beige Book - 02:00 WIB

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