REDATOR Ben Graham Posted January 14 REDATOR Report Share Posted January 14 [Silver] Although there is a potential of a limited correction which indicated by the appearance of a Bearish Divergence between Silver's price movement and the RSI indicator, but with both EMAs in a Golden Cross position,Silver appears to continue its strengthening. Key Levels1. Resistance. 2 : 92.1082. Resistance. 1 : 89.5023. Pivot : 86.4584. Support. 1 : 83.8525. Support. 2 : 80.808Tactical ScenarioPositive Reaction Zone: If the price holds at 86.458, there is potential for Silver to rise toward 89.502.Momentum Extension Bias: If 89.502 is broken to the upside, Silver may have the chance to test 92.108. Invalidation Level / Bias RevisionThe upside bias weakens if Silver falls and breaks below 80.808. Technical SummaryEMA(50) : 86.462EMA(200): 82.488RSI(14) : 61.20 + Bearish DivergentEconomic News Release Agenda:From the United States the following economic data will be released:US - Core PPI m/m - 20:30 WIBUS - Core Retail Sales m/m - 20:30 WIBUS - PPI m/m - 20:30 WIBUS - Retail Sales m/m - 20:30 WIBUS - Current Account - 20:30 WIBUS - Business Inventories m/m - 22:00 WIBUS - Existing Home Sales - 22:00 WIBUS - Beige Book - 02:00 WIBThe material has been provided by InstaForex Company - www.instaforex.com Visitante_c642a32a, Visitante_874c1093, Visitante_1c2fd5d1 and 2 others 1 1 1 2 1 Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Liked! × 💬 Did you like this content? Your feedback is very important! Liked! Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.