Silver Is on the Same Track as Gold!
Silver is currently at $39,290, supported by a weakening US dollar and global trade concerns, which are driving interest in safe-haven assets. Expectations of a Fed rate cut and industrial demand are also supporting prices.
Technically, silver remains in an uptrend. Strong support is at $39.00, while the nearest resistance is at $39.50. A breakout of this resistance opens the potential for a move to $40.00. The RSI is approaching overbought, signaling a possible short-term consolidation.
Recommendations:
Buy if the price breaks above $39,430
Sell if the price breaks below $39,150
Resistance 2: $39,730
Resistance 1: $39,430
Support 1: $39,150
Support 2: $38,850
Note: This article is intended for analytical purposes and is not intended as a definitive reference. Always pay attention to fundamental and technical developments before making investment decisions.
Source: Newsmaker.id