Silver Rises Above $32 in US Session
Silver (XAG/USD) prices rose on Monday (4/21). The recovery of the gray metal was supported by renewed safe-haven demand amid a weakening US Dollar (USD).
Rising economic uncertainty has fueled demand for Silver, a traditional safe-haven asset in times of instability. Escalating US-China trade tensions have added to risk-off sentiment. China has pushed back against what it described as US “trade bullying,” warning other countries not to give in to pressure that is detrimental to it.
Until this news was released, the price of silver was at $ 32,615
RECOMMENDATION
- Buy if the price moves to $ 32,915
- Sell if the price moves to $ 32,315
Resistance Level 2: $ 33,515
Resistance Level 1: $ 33,215
Support Level 1: $ 32,015
Support Level 2: $ 31,715
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