Silver Regains Strength After Early Session Drop
Silver regains strength as US nonfarm payrolls data is due on Friday as the key data before policymakers meet on December 17-18 in Washington.
While market participants are expecting a 25 basis point cut, a strong employment figure could deter the central bank from aggressive monetary easing next year which would be positive for silver.
As of this writing Silver is at $31,317
RECOMMENDATION
- Buy if price moves to at least $31,200
- Sell if price moves to at least around $31,417
Resistance Level 2: $31,517
Resistance Level 1: $31,417
Support Level 1: $31,200
Support Level 2: $31,100
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in transactions before making investment decisions.
Source: Newsmaker23
