Silver

With RSI(14) indicator condition in the Extreme-Bullish level and both EMAs forming a Golden Cross, there is a huge probability that Silver will continue its bullish bias today toward its nearest resistance.

Key Levels

1. Resistance. 2 : 82.418

2. Resistance. 1 : 80.957

3. Pivot : 78.158

4. Support. 1 : 76.697

5. Support. 2 : 73.898

Tactical Scenario

Positive Reaction Zone: If the price breaks above 80.957, there is a likelihood Silver will move up toward 82.418.

Momentum Extension Bias: If 82.418 is also broken, Silver could extend gains to 85.217.

Invalidation Level / Bias Revision

The upside bias weakens if Silver falls below 73.898.

Technical Summary

EMA(50) : 78.343

EMA(200): 76.128

RSI(14) : 73.97

Economic News Release Agenda:

Today the United States will release the following economic data:

US - Empire State Manufacturing Index - 19:30

US - Import Prices m/m - 19:30

US - NAHB Housing Market Index - 21:00

US - Crude Oil Inventories - 21:30

US - Beige Book - 01:00

US - TIC Long-Term Purchases - 03:00