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[Silver]
Even though the RSI(14) indicator for silver is at the Neutral Bullish level, but the two EMAs crossing the Death Cross indicate that silver has the potential to weaken towards its nearest support level.
Key Levels
1. Resistance. 2 : 94.363
2. Resistance. 1 : 89.702
3. Pivot : 84.418
4. Support. 1 : 79.757
5. Support. 2 : 74.473
Tactical Scenario
Pressure Zone: If the price of Silver breaks down below 84.418, it may be pressured toward 79.757.
Momentum Extension Bias: If 79.757 is breached, there is potential to test 74.473.
Invalidation Level / Bias Revision
The downside bias is contained if Silver breaks and closes above 94.363.
Technical Summary
EMA(50) : 85.451
EMA(200): 92.060
RSI(14) : 56.45
Economic News Release Agenda:
Tonight, during the U.S. session, the following economic data will be released:
US - ADP Non-Farm Employment Change - 20:15 WIB
US - Final Services PMI - 21:45 WIB
US - ISM Services PMI - 22:00 WIB
US - Crude Oil Inventories - 22:30 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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