Silver Moves Negative In Europe
Silver prices maintained their recent gains to around $30 an ounce on Wednesday, holding at a more than one-week high as markets anticipate that the US Federal Reserve will cut interest rates again at its December meeting. Currently, markets are pricing in a 75% probability of a 25 basis point rate cut this month. Investors are now focused on the upcoming US jobs data and remarks from Fed Chair Jerome Powell later this week for further clarity on the Fed’s monetary policy path.
RECOMMENDATION
- Buy if price moves to at least $31,029
- Sell if price moves to at least around $30,749
Resistance Level 2: $31,409
Resistance Level 1: $31,219
Support Level 1: $30,559
Support Level 2: $30,369
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in trading before making investment decisions.
Source: newsmaker