Silver Edges Higher as Dollar Weakens
Silver (XAG/USD) traded slightly higher on Monday (5/19) as broader US dollar weakness fueled demand for alternative safe haven assets.
The move came in response to Moody's downgrade of the US sovereign credit rating, which has added to market concerns over fiscal sustainability and long-term growth prospects.
RECOMMENDATION
- Buy if price moves to $32,642
- Sell if price moves to $32,042
Resistance Level 2: $33,242
Resistance Level 1: $32,942
Support Level 1: $31,742
Support Level 2: $31,442
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