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[Silver]
Although both EMAs are still in a Death Cross, but with Silver's price above both EMA(50) & EMA(200) as well as RSI(14) indicator in the Neutral-Bullish level, there is potential for Silver to strengthen toward its nearest resistance level today.
Key Levels
1. Resistance. 2 : 85.538
2. Resistance. 1 : 83.147
3. Pivot : 81.558
4. Support. 1 : 79.167
5. Support. 2 : 77.578
Tactical Scenario
Positive Reaction Zone: If Silver rises and breaks above 83.147, there is a possibility the move will continue toward 85.538.
Momentum Extension Bias: If 85.538 is broken, Silver has the potential to extend gains to 87.127.
Invalidation Level / Bias Revision
The upside bias weakens if Silver falls and breaks below 77.578.
Technical Summary
EMA(50) : 81.390
EMA(200): 81.628
RSI(14) : 61.37
Economic News Release Agenda:
Tonight the United States will release the following economic data:
US - Average Hourly Earnings m/m - 20:30 WIB
US - Non-Farm Employment Change - 20:30 WIB
US - Unemployment Rate - 20:30 WIB
US - Crude Oil Inventories - 22:30 WIB
US - 10-y Bond Auction - 01:01 WIB
US - Federal Budget Balance - 02:00 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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