SILVER

If we look at all the technical indicators that show weakness in Silver, then in the near future XAG/USD has the potential to test its nearest support level.

Key Levels

1. Resistance. 2 : 80.950

2. Resistance. 1 : 77.300

3. Pivot : 75.185

4. Support. 1 : 71.535

5. Support. 2 : 69.420

Tactical Scenario

Pressure Zone: If 71.535 is broken down, there is potential for continued weakness toward 69.420.

Momentum Extension Bias: If 69.420 is broken, Silver may test the next support at 65.770.

Invalidation Level / Bias Revision

The downside bias is restrained if the price strengthens and breaks above 80.950.

Technical Summary

EMA(50) : 74.944

EMA(200): 78.003

RSI(14) : 37.69

Economic News Release Agenda:

Today the United States will release the following economic data:

US - Crude Oil Inventories - 21:30 WIB

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