REDATOR Ben Graham Posted February 4 REDATOR Report Share Posted February 4 [Silver] Even though the RSI(14) indicator for silver is at the Neutral Bullish level, but the two EMAs crossing the Death Cross indicate that silver has the potential to weaken towards its nearest support level.Key Levels1. Resistance. 2 : 94.3632. Resistance. 1 : 89.7023. Pivot : 84.4184. Support. 1 : 79.7575. Support. 2 : 74.473Tactical ScenarioPressure Zone: If the price of Silver breaks down below 84.418, it may be pressured toward 79.757.Momentum Extension Bias: If 79.757 is breached, there is potential to test 74.473. Invalidation Level / Bias RevisionThe downside bias is contained if Silver breaks and closes above 94.363. Technical SummaryEMA(50) : 85.451EMA(200): 92.060RSI(14) : 56.45Economic News Release Agenda:Tonight, during the U.S. session, the following economic data will be released:US - ADP Non-Farm Employment Change - 20:15 WIBUS - Final Services PMI - 21:45 WIBUS - ISM Services PMI - 22:00 WIBUS - Crude Oil Inventories - 22:30 WIBThe material has been provided by InstaForex Company - www.instaforex.com 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...
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