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Silver
Today Silver has the potential to weaken toward its nearest support level, which is confirmed by a Death Cross condition between both of EMAs.
Key Levels
1. Resistance. 2 : 82.155
2. Resistance. 1 : 79.385
3. Pivot : 77.385
4. Support. 1 : 74.615
5. Support. 2 : 72.615
Tactical Scenario
Pressure Zone: If the price of Silver breaks down below 77.385, there is potential for continued pressure toward 74.615.
Momentum Extension Bias: If 74.615 is broken, Silver may continue weakening to 72.615.
Invalidation Level / Bias Revision
The downside bias is restrained if the price strengthens and breaks above 82.155.
Technical Summary
EMA(50) : 77.904
EMA(200): 78.637
RSI(14) : 57.81
Economic News Release Agenda:
From the United States, only Crude Oil Inventories will be released at 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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