Silver Steady at $33 After Fed Decision
As widely expected, the Fed kept the federal funds rate at 4.25%–4.5% during its March meeting but reiterated its outlook for two rate cuts later this year.
Silver, a non-yielding asset, may have found support as U.S. Treasury yields declined, with the 2-year yield at 3.97% and the 10-year yield at 4.24%. Silver price is trading in the $33 area ahead of the European session on Thursday (3/20)
RECOMMENDATION
- Buy if the price moves to $34,114
- Sell if the price moves to $33,514
Resistance Level 2: $34,714
Resistance Level 1: $34,114
Support Level 1: $33,514
Support Level 2: $32,214
Note:
This article is only an analysis and not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id