Silver Down After Technical Correction Rally
Silver fell nearly 1% in a possible technical correction after surging more than 3% in the previous session to a three-week high. The white metal continues to diverge from gold, reflecting its hybrid nature as a precious metal and an industrial metal that makes it more sensitive to shifts in macroeconomic sentiment and trade developments. Recent market movements have been shaped by evolving US-China trade signals.
As of this writing, Silver is trading at $33,390
RECOMMENDATION
- Buy if price moves to $33,300
- Sell if price moves to $33,500
Resistance Level 2: $33,670
Resistance Level 1: $33,530
Support Level 1: $33,250
Support Level 2: $33,110
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