[Gold]
If we observe that the RSI is forming a Hidden Bearish Divergence pattern and the two EMAs are crossing the Death Cross, then there is a high probability that gold will weaken today to its nearest support level.
Key Levels
1. Resistance. 2 : 5170.45
2. Resistance. 1 : 5094.41
3. Pivot : 5051.83
4. Support. 1 : 4975.79
5. Support. 2 : 4933.21
Tactical Scenario
Pressure Zone: If Gold breaks down and closes below 4975.79, there is potential pressure toward 4933.21.
Momentum Extension Bias: If 4933.21 is broken to the downside, Gold could continue weakening to 4857.17.
Invalidation Level / Bias Revision
The downside bias is restrained if Gold strengthens and breaks above 5170.45.
Technical Summary
EMA(50) : 5067.59
EMA(200): 5124.04
RSI(14) : 33.75
Economic News Release Agenda:
From the United States, the following economic data will be released:
US - Empire State Manufacturing Index - 19:30 WIB
US - Capacity Utilization Rate - 20:15 WIB
US - Industrial Production m/m - 20:15 WIB
US - NAHB Housing Market Index - 21:00 WIB