Silver Under Pressure Again
Silver held below $30.5 an ounce on Tuesday (12/17) after facing heavy selling pressure in recent sessions, weighed down by concerns about a more measured pace of easing from the U.S. Federal Reserve next year.
The Fed is widely expected to implement a 25 basis point interest rate cut this week, but may signal fewer cuts for 2025 due to concerns about a potential resurgence in inflation. Silver and other metals are also facing pressure from ongoing demand uncertainty in China, the world's largest consumer of the metal.
RECOMMENDATION
- Buy if price moves to at least $30,386
- Sell if price moves to at least around $30,106
Resistance Level 2: $31,766
Resistance Level 1: $30,576
Support Level 1: $29,916
Support Level 2: $29,726
DISCLAIMER
Note: This article is only an analysis and is not a definitive reference. Pay attention to the development of fundamental and technical aspects in transactions before making investment decisions.
Source: Newsmaker.id