Silver Stabilizes on Interest Rate Expectations
Silver stabilized in intraday trading on Monday, halting an earlier decline due to dovish comments from a senior US Federal Reserve official that raised expectations of an interest rate cut next month.
New York Fed President John Williams said on Friday that a near-term interest rate cut remains possible, with the ongoing weakness in the labor market posing a greater risk than high inflation.
Silver price at the time of this analysis was released was $49.941
- Buy if the price moves below $49.850
- Sell if the price moves below $50.030
Resistance 2: $50.221
Resistance 1: $50.081
Support 1: $49.801
Support 2: $49.661
Disclaimer: This article is analytical in nature and does not constitute a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id