Silver Weakens as Investors Take Profits
Silver prices fell on Monday (6/16) as investors locked in profits following a sharp rally that pushed the metal to a 13-year high. Despite the decline, silver remains supported by resilient industrial demand.
Persistent supply shortages, and its appeal as a safe haven amid ongoing economic uncertainty. Fundamentally, the metal’s critical role in solar energy, electronics, and broader electrification efforts accounts for more than half of global demand.
RECOMMENDATION
- Buy if price breaks above $36,512
- Sell if price breaks above $35,912
Resistance 2: $37,112
Resistance 1: $36,812
Support 1: $35,612
Support 2: $35,312
Note: This article is for analytical purposes only and is not a definitive reference. Please pay attention to fundamental and technical developments in trading before making any investment decisions. Source: Newsmaker.id