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Silver
With technical conditions indicating strengthening today, Silver has the potential to strengthen and rise towards its nearest resistance level.
Key Levels
1. Resistance. 2 : 119.885
2. Resistance. 1 : 115.955
3. Pivot : 109.465
4. Support. 1 : 105.535
5. Support. 2 : 99.045
Tactical Scenario
Positive Reaction Zone: If the price holds in the Pivot area of 109.465, there is a possibility of further upward movement towards 115.955.
Momentum Extension Bias: If 115.955 is successfully broken, there is potential for a test of 119.885.
Invalidation Level / Bias Revision
Upside bias weakens when Silver price weakens below 99.045.
Technical Summary
EMA(50) : 111.167
EMA(200): 105.05
RSI(14) : 69.76
Economic News Release Agenda:
Tonight, the United States will release the following economic data:
US - Crude Oil Inventories - 10:30 PM WIB
US - Federal Funds Rate - 2:00 AM 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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