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Silver – Thursday, August 7, 2025.
Silver's bias is currently strengthening significantly, where it potentially testing its nearest resistance levels. Although there is a possibility of a correction, as long as the weakening correction is limited and does not break below Support 2, the bias for silver will remain strong throughout the day.
Key Levels
1. Resistance 2: 38,063.
2. Resistance 1: 37,917.
3. Pivot: 37,753.
4. Support 1: 37,607.
5. Support 2: 37,443.
Tactical Scenario
Positive Reaction Zone: If the silver price successfully breaks through and closes above 37.917, it has the potential to strengthen to 38.063.
Momentum Extension Bias: If the 38.063 level is successfully broken through and closes above it, silver has the potential to continue strengthening to 38.227.
Invalidation Level / Bias Revision
Upside bias weakens when the silver price corrects and falls to break through and closes below 37.443.
Technical Summary
EMA(50): 37.79.
EMA(200): 37.55.
RSI(14): 61.12.
Economic News Release Agenda:
Tonight, there will be economic data releases from the United States:
US - Unemployment Claims - 19:30 PM WIB.
US - Prelim Nonfarm Productivity q/q -19:30 PM WIB.
US - Prelim Unit Labor Costs q/q - 19:30 PM WIB.
US - Final Wholesale Inventories m/m - 21:00 WIB.
US - Natural Gas Storage - 21:30 WIB.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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