Gold

With the appearance of a Bearish Divergence between RSI with price movement, then there is potential for gold to weaken again and fall towards its nearest support level

Key Levels

1. Resistance. 2 : 4787.01

2. Resistance. 1 : 4744.36

3. Pivot : 4675.72

4. Support. 1 : 4633.07

5. Support. 2 : 4564.43

Tactical Scenario

Pressure Zone: If the price breaks below 4787.01, there is potential pressure on Gold towards 4744.36.

Momentum Extension Bias: If 4744.36 is successfully broken below, Gold has the potential to move towards 4675.72.

Invalidation Level / Bias Revision

Downside bias is maintained if the Gold price strengthens and breaks above 4855.65.

Technical Summary

EMA(50) : 4724.47

EMA(200): 4667.76

RSI(14) : 54.73

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