Silver Prices Recover
Silver held around $30.5 an ounce on Monday (12/16) after falling more than 4% over the past two sessions, as investors prepared for the latest U.S. Federal Reserve policy decision this week.
The Fed is widely expected to cut interest rates by 25 basis points on Wednesday, but traders scaled back expectations for further easing next year. Silver prices were also pressured by persistent demand concerns in major consumer China.
RECOMMENDATIONS
- Buy if price moves to at least $30,787
- Sell if price moves to at least around $30,507
Resistance Level 2: $31,167
Resistance Level 1: $30,977
Support Level 1: $30,317
Support Level 2: $30,127
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in the transaction before making an investment decision.
Source: Newsmaker.id