Silver Down on Stronger Dollar
Silver prices fell on Wednesday (5/28), The precious metal remained pressured by a stronger U.S. dollar, which gained on improving economic sentiment and cautious comments from the Federal Reserve.
Minneapolis Fed President Neel Kashkari said on Tuesday that interest rates should remain on hold until there is greater clarity on the inflationary impact of high rates, reinforcing expectations of a prolonged pause in policy and supporting the dollar.
Silver is currently trading at $32.997/ Toz.
RECOMMENDATIONS
- Buy if price moves to $33.297
- Sell if price moves to $32.697
Resistance Level 2: $33.897
Resistance Level 1: $33.597
Support Level 1: $32.397
Support Level 2: $32.097
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