Silver drops to new lows
Silver remains under heavy selling pressure for the third straight day on Thursday.
Silver (XAG/USD) is trading lower for the third straight day, marking the fourth day of negative movement in the previous five, and dropped to a more than two-week low during the Asian session on Thursday. However, the white metal is showing some resilience at the bottom even though the technical setup supports prospects for an extension of the one-week-old downtrend.
As of this writing, Silver is trading at $31,993
RECOMMENDATION
- Buy if price moves to $31,900
- Sell if price moves to $32,050
Resistance Level 2: $32,273
Resistance Level 1: $32,133
Support Level 1: $31,853
Support Level 2: $31,713
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