Where's Silver Heading in the European Session?
Silver is currently hovering around $77,430, its movement likely awaiting triggers from the US dollar and yields. If the dollar strengthens, silver is usually resilient; if the dollar weakens, silver rises more easily.
The fundamentals are still supported by safe havens (global uncertainty) plus industrial demand (electronics/solar). However, it remains sensitive to US economic data: if the data is strong, the dollar rises, silver is vulnerable to corrections; if the data weakens, silver is more supportive.
The silver price at the time of this analysis is $77,473
- Buy if the price reaches $77,218
- Sell if the price reaches $76,872
Resistance 1: $77,760
Resistance 2: $77,414
Support 1: $76,722
Support 2: $76,376
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id