Silver Still Strong in US Session
Silver (XAG/USD) prices recovered from intraday losses and turned flat on Wednesday (2/19). The white metal bounced back as its appeal as a safe-haven asset remained strong amid concerns about a global economic slowdown from potential tariffs by United States (US) President Donald Trump.
President Trump has threatened to impose 25% tariffs on cars, pharmaceuticals, and semiconductors and that the tariffs could increase substantially next year. Trump added that some tariffs could be imposed in April, the same time frame in which he had planned to unveil a reciprocal tariff plan as well.
RECOMMENDATION
- Buy if price moves to $32,929
- Sell if price moves to $32,329
Resistance Level 2: $33,529
Resistance Level 1: $33,229
Support Level 1: $32,029
Support Level 2: $31,729
Note:
This article is only an analysis and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id