Silver Continues Decline Ahead of Trump Inauguration
Silver prices continued to fall below $30.30 an ounce on Monday, after posting a third straight weekly gain as lower underlying U.S. inflation strengthened expectations for further Federal Reserve interest rate cuts this year.
Traders were wary of Donald Trump’s inauguration as U.S. president on Monday night, which could herald an era of massive tariffs, trade wars and widespread market turmoil. Meanwhile, in the Middle East, a long-overdue ceasefire in the Gaza war came into effect as Hamas released three female hostages in exchange for 90 Palestinians held in Israeli jails.
RECOMMENDATION:
- Buy if the price moves to around $ 30,310
- Sell if the price moves to around $ 30,010
Resistance Level 2: $ 30,675
Resistance Level 1: $ 30,485
Support Level 1: $ 29,835
Support Level 2: $ 29,645
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