Silver 41,165 in Asia, Awaiting US CPI
Prices are hovering around 41,165, supported by expectations of a Fed rate cut, which is pressuring USD/yield, a positive correlation with gold, and solid industrial demand (solar power and electronics).
Key catalysts: US CPI release tonight WIB. A lower result tends to be bullish for silver, while a higher result risks depressing prices. Also monitor Chinese data, ETF flows, and supply from major producers (Mexico/Peru) as further determinants of the 41-day moving average.
The silver price at the time of writing was $41,165/Toz.
- Buy if the price moves to $41,305
- Sell if the price moves to $40,865
Resistance 2: $41,905
Resistance 1: $41,605
Support 1: $40,565
Support 2: $40,265
DISCLAIMER
Note: This article is for analytical purposes only and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id