Silver Strengthens as Dollar Weakens
Silver prices continued to strengthen in European trading on Friday (1/24). Demand for non-interest bearing Silver increased following comments made by US President Donald Trump on Thursday night.
In addition, industrial demand for Silver may have strengthened following comments by US President Donald Trump about his preference to avoid tariffs on China, the world's largest metals consumer and manufacturing powerhouse. Trump expressed optimism about reaching a deal with China after a conversation with President Xi Jinping on Thursday, indicating potential progress in US-China trade negotiations.
RECOMMENDATION
- Buy if price moves to $31,212
- Sell if price moves to $30,612
Resistance Level 2: $30,912
Resistance Level 1: $31,212
Support Level 1: $30,612
Support Level 2: $30,312
Note: This article is analysis only and is not a definitive reference. Keeping in mind the fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id