Silver Moves Down, Despite Market Panic
Silver (XAG/USD) prices moved down after posting gains in the previous two sessions, trading around $36.50 per troy ounce during Asian hours on Friday (6/27). The decline in precious metal prices, including Silver, may be restrained due to renewed concerns over the independence of the US Federal Reserve (Fed).
In addition, traders may be cautious due to the potential weakening of market sentiment, which was driven by the latest comments from Iranian Foreign Minister Abbas Araghchi. Araghchi said that Tehran has no intention of resuming nuclear negotiations with the United States.
RECOMMENDATION
- Buy if price breaks above $36,686
- Sell if price breaks above $36,406
Resistance 2: $37,286
Resistance 1:$36,986
Support 1: $36,106
Support 2: $35,806
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 (alg)