Silver Still Under Pressure as Market Players Await PCE Data Release
Silver maintained support and showed a modest recovery from a four-week low reached during the Asian session on Friday. The white metal is currently trading around the $31.35 region, up over 0.30% for the day, although there was no follow-through buying as traders eagerly await the release of the US Personal Consumption Expenditures (PCE) Price Index.
As of this writing, silver is trading at $31,197
RECOMMENDATION
- Buy if price moves to $31,100
- Sell if price moves to $31,300
Resistance Level 2: $31,497
Resistance Level 1: $31,347
Support Level 1: $31,047
Support Level 2: $30,897
Note:
This article is only an analysis and not a definitive reference. Consider the fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id