Silver Prices Move Positively on Chinese Economy
Silver prices rose around $30 per ounce on Monday (6/1) as investors cautiously await key US economic data that could influence the Federal Reserve's monetary policy outlook.
Among the upcoming reports, the market is mainly focused on the US monthly jobs report due on Friday, which could provide insight into whether silver will recover further.
The white metal is also getting support from the positive economic outlook in China, the world's largest silver consumer.
RECOMMENDATION
- Buy if the price moves to around $30,358
- Sell if the price moves to around $29,758
Resistance Level 2: $30,758
Resistance Level 1: $30,658
Support Level 1: $29,458
Support Level 2: $29,358
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