The appearance of a Bearish Divergence in Silver indicates a potential correction, however, as long as it does not break

[Ben Graham]

[Silver]

Although there is potential for a correction confirmed by the appearance of a Bearish Divergence on the RSI, the overall bias still shows strengthening, confirmed by the Golden Cross of both EMAs, indicating that buyers are still dominating today.

Key Levels:

1. Resistance. 2 : 52.303

2. Resistance. 1 : 51.872

3. Pivot : 51.268

4. Support. 1 : 50.837

5. Support. 2 : 50.233

Tactical Scenario:

Positive Reaction Zone: If the price of Silver breaks above 51.268, it has the potential to continue strengthening up to 51.872.

Momentum Extension Bias: If 51.872 is successfully broken, there is potential for Silver to test the level at 52.303.

Invalidation Level / Bias Revision:

The upside bias weakens if the price of Silver weakens and breaks down below 50.233.

Technical Summary:

EMA(50) : 51.285

EMA(200): 50.838

RSI(14) : 67.72 + Bearish Divergent

Economic News Release Agenda:

Tonight in the U.S. session, the following economic data will be released:

US - Unemployment Claims - 20:30 WIB

US - Core Durable Goods Orders m/m - 20:30 WIB

US - Durable Goods Orders m/m - 20:30 WIB

US - Chicago PMI - 21:45 WIB

US - Crude Oil Inventories - 22:30 WIB

US - Natural Gas Storage - 00:00 WIB

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