Silver Recovers In Europe
Silver (XAG/USD) prices extended their decline for the second straight session, trading around $31.90 per troy ounce during Asian hours on Thursday (5/15).
Technical analysis of the daily chart suggests a weakening bullish outlook, as the precious metal has fallen below an ascending channel pattern.
The decline follows productive US-China trade talks over the weekend in Switzerland, where both sides agreed to temporarily lower tariffs to 30% and 10%, respectively, for a period of 90 days—a significant step towards de-escalation.
RECOMMENDATION
- Buy if price moves to $ 32,359
- Sell if price moves to $ 31,759
Resistance Level 2: $ 32,959
Resistance Level 1: $ 32,659
Support Level 1: $ 31,459
Support Level 2: $ 31,159
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