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SILVER
Selling pressure still continue toward the nearest support level, which is confirmed by both EMAs forming a Death Cross.
Key Levels
1. Resistance. 2 : 77.822
2. Resistance. 1 : 75.443
3. Pivot : 73.717
4. Support. 1 : 71.328
5. Support. 2 : 69.612
Tactical Scenario
Pressure Zone: If the price breaks down below 71.328, there is potential for continued pressure toward 69.612.
Momentum Extension Bias: If 69.612 is breached, Silver could continue weakening to test 67.223.
Invalidation Level / Bias Revision
The downside bias is restrained if the price breaks out above 77.822.
Technical Summary
EMA(50) : 73.550
EMA(200): 75.126
RSI(14) : 56.53
Economic News Release Agenda:
From the United States, the following economic data will be released:
US - Building Permits - 19:30 WIB
US - Core Durable Goods Orders m/m - 19:30 WIB
US- Durable Goods Orders m/m - 19:30 WIB
US - Goods Trade Balance - 19:30 WIB
US - Housing Starts - 19:30 WIB
US - Prelim Wholesale Inventories m/m - 19:30 WIB
US - Crude Oil Inventories - 21:30 WIB
US - Federal Funds Rate - 01:00 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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