FX.co ★ Silver appears to continue its bearish bias, as almost all the technical data supports this decline.

[Silver]

Given the Death Cross condition of both EMAs and the RSI in the Neutral-Bearish zone, the potential for further weakness in Silver remains significant.

Key Levels:

1. Resistance. 2 : 52.032

2. Resistance. 1 : 51.098

3. Pivot : 50.332

4. Support. 1 : 49.338

5. Support. 2 : 48.612

Tactical Scenario:

Pressure Zone: If the price breaks down and closes below 49.338, there is potential for it to continue weakening to 48.612.

Momentum Extension Bias: If 48.612 is breached, Silver may test the level at 47.678.

Invalidation Level / Bias Revision:

The downside bias is restrained if Silver breaks and closes above 52.032.

Technical Summary:

EMA(50) : 50.489

EMA(200): 51.167

RSI(14) : 35.74

Economic News Release Agenda:

Tonight from the United States, there is only the release of Factory Orders m/m at 22:00 WIB.