Silver in Negative Territory After Christmas Holiday
Silver moved above $29.50 an ounce, recovering from a three-month low of $29 hit on Dec. 19 as markets reconsidered the expected level of hawkishness from the Fed next year. Lower-than-expected core PCE prices in November eased concerns about overly tight interest rates fueled by hawkish projections from FOMC members, lowering bond yields and supporting the precious metal.
As of this writing, Silver is at $29,726
RECOMMENDATION
- Buy if price moves to at least $29,497
- Sell if price moves to at least around $29,576
Resistance Level 2: $30,126
Resistance Level 1: $29,926
Support Level 1: $29,576
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: Newsmaker.id