Silver Back In $32 Area
Silver erased earlier losses to trade above $32 an ounce, near a three-month high, outperforming other bullion in the session as expectations of steady demand for the metal in the electrification industry offset bets of a more aggressive Fed this year.
A surprise recovery in the ISM manufacturing PMI for January boosted the outlook for U.S. manufacturing after more than two years of monthly contractions.
RECOMMENDATIONS
- Buy if price moves to $32,514
- Sell if price moves to $31,914
Resistance Level 2: $33,114
Resistance Level 1: $32,814
Support Level 1: $31,614
Support Level 2: $31,314
Note: This article analysis is only and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id