SILVER
With technical indicator condition supporting the strength in Silver today, then XAG/USD has the potential in the near term to test its nearest resistance level.
Key Levels
1. Resistance. 2 : 89.682
2. Resistance. 1 : 88.108
3. Pivot : 85.567
4. Support. 1 : 81.993
5. Support. 2 : 81.452
Tactical Scenario
Positive Reaction Zone: If the price holds above 85.567, there is a likelihood of a move up toward 88.108.
Momentum Extension Bias: If 88.108 is broken, 89.682 may be tested.
Invalidation Level / Bias Revision
The upside bias weakens if Silver falls below 81.452.
Technical Summary
EMA(50) : 85.448
EMA(200): 82.114
RSI(14) : 51.04
Economic News Release Agenda:
Tonight the United States will release the following economic data:
US - Core PPI m/m - 19:30 WIB
US - PPI m/m -19:30 WIB
US - Crude Oil Inventories - 21:30 WIB
US - 30-y Bond Auction - 00:01 WIB
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