Silver Resumes Decline In Europe
Silver eased from its recent gains seen in the previous session, settling around $32.50 during Asian trading hours on Friday (5/16).
The metal came under pressure, possibly due to a Financial Times report suggesting that the Trump administration is planning to add several Chinese semiconductor companies to its export blacklist, known as the “entity list.”
Silver’s growing association with the chipmaking industry—due to its critical role in the production of electronics and semiconductors—has heightened the market’s sensitivity to the development.
RECOMMENDATION
- Buy if price moves to $32,533
- Sell if price moves to $31,933
Resistance Level 2: $33,133
Resistance Level 1: $32,833
Support Level 1: $31,633
Support Level 2: $31,333
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
