[Silver]

With the appearance of a Bearish Divergence on the RSI indicator suggests that there is potential for a limited correction in the near term; however, the overall bias for Silver still indicates strengthening.

Key Levels

1. Resistance. 2 : 55.343

2. Resistance. 1 : 54.282

3. Pivot : 52.558

4. Support. 1 : 51.497

5. Support. 2 : 49.773

Tactical Scenario

Positive Reaction Zone: If the price of Silver strengthens and breaks above 54.282, it may have the opportunity to test 55.343.

Momentum Extension Bias: If 55.343 is breached, Silver will have the chance to test 57.067.

Invalidation Level / Bias Revision

The upside bias weakens if the price of Silver declines and closes below 49.773.

Technical Summary:

EMA(50) : 52.495

EMA(200): 50.722

RSI(14) : 67.48 - Bearish Divergent

Economic News Release Agenda:

Tonight, after the U.S. market session opens, the following economic data will be released:

US - Mortgage Delinquencies - Tentative.

US - Crude Oil Inventories - 00:00 WIB.