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