Silver Prices Weaken Slightly in Asian Market
Prices opened little changed at the start of the Asian session. The white metal had previously experienced a fairly strong increase along with the weakening of US treasury yields, increasing interest in haven assets.
Geopolitical risks in the Middle East and Europe also boosted silver. Meanwhile, the US Dollar Outlook and bond yields are expected to remain strong as the Federal Reserve (Fed) is expected to provide fewer interest rate cuts this year as officials are optimistic about the economic path.
RECOMMENDATION
- Buy if the price moves to around $29,667
- Sell if the price moves to around $29,387
Resistance Level 2: $29,689
Resistance Level 1: $29,608
Support Level 1: $29,464
Support Level 2: $29,401
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