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Silver
With RSI(14) indicator condition in the Extreme-Bullish level and both EMAs forming a Golden Cross, there is a huge probability that Silver will continue its bullish bias today toward its nearest resistance.
Key Levels
1. Resistance. 2 : 82.418
2. Resistance. 1 : 80.957
3. Pivot : 78.158
4. Support. 1 : 76.697
5. Support. 2 : 73.898
Tactical Scenario
Positive Reaction Zone: If the price breaks above 80.957, there is a likelihood Silver will move up toward 82.418.
Momentum Extension Bias: If 82.418 is also broken, Silver could extend gains to 85.217.
Invalidation Level / Bias Revision
The upside bias weakens if Silver falls below 73.898.
Technical Summary
EMA(50) : 78.343
EMA(200): 76.128
RSI(14) : 73.97
Economic News Release Agenda:
Today the United States will release the following economic data:
US - Empire State Manufacturing Index - 19:30
US - Import Prices m/m - 19:30
US - NAHB Housing Market Index - 21:00
US - Crude Oil Inventories - 21:30
US - Beige Book - 01:00
US - TIC Long-Term Purchases - 03:00
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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