Silver Corrects Again, Why?
The price of silver (XAG/USD) weakened slightly, approaching $38.80 at the start of the European trading session on Tuesday (July 22nd). However, the precious metal remains near its decade-high of around $39.00. The outlook for this precious metal remains bullish due to high demand for safe-haven assets due to ongoing concerns over global trade flows.
As of this writing, the price of silver is at $38,837.
Recommendation:
Buy if the price breaks above $38,750
Sell if the price breaks below $38,900
Resistance 2: $39,117
Resistance 1: $38,977
Support 1: $38,823
Support 2: $38,683
Note: This article is intended for analysis and is not intended as a definitive reference. Always pay attention to fundamental and technical developments before making investment decisions.
Source: Newsmaker.id