Silver Holds Above $30 in US Mid-Day Trading
Silver prices held above $30 an ounce in US mid-day trading on Monday as the white metal also found support from an upbeat economic outlook in China, the world’s largest silver consumer.
Beijing recently pledged “more proactive” macroeconomic policies and lower interest rates this year to stimulate growth.
Additionally, data showed China’s services sector expanded at a seven-month high in December, signaling resilient consumption.
RECOMMENDATION
- Buy if the price moves to around $30,152
- Sell if the price moves to around $29,852
Resistance Level 2: $30,547
Resistance Level 1: $30,347
Support Level 1: $29,677
Support Level 2: $29,482
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