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Indonesia News Portal for Traders | Financial & Business Updates

27 December 2024 00:02  |

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

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