[Silver]
If we pay attention to both EMAs of XAG/USD are in a Golden Cross condition, and the RSI is positioned in the Extreme-Bullish zone, it is clearly indicating that buyers are dominant and may lead Silver toward its nearest resistance level.
Key Levels
1. Resistance. 2 : 65.253
2. Resistance. 1 : 64.482
3. Pivot : 63.318
4. Support. 1 : 62.547
5. Support. 2 : 61.383
Tactical Scenario:
Positive Reaction Zone: If the price of Silver breaks above 64.482, it may move toward 65.253.
Momentum Extension Bias: If 65.253 is successfully surpassed, then XAG/USD could test the level at 66.417.
Invalidation Level / Bias Revision:
The upside bias weakens if the price of Silver declines and breaks below 61.383.
Technical Summary:
EMA(50) : 63.864
EMA(200): 62.782
RSI(14) : 78.36
Economic News Release Agenda:
Tonight from the United States, only one economic data release is scheduled which is Crude Oil Inventories on 22:30 WIB
