Silver Soars — Can It Rise Again?
Silver prices surged to an all-time high today before stabilizing around $50.10 per ounce. This sharp surge was triggered by minor pressure in the London market due to dwindling physical supplies, while demand remains high from investors and industry. Positive sentiment also came from rising gold prices and concerns over US-China trade tensions, which prompted market participants to seek safe-haven assets.
While silver's rally remains strong, analysts warn of the potential for a short-term correction after the rapid rise in recent days. As long as the price can stay above the psychological level of $50 per ounce, the silver trend is considered bullish, with investor interest remaining high amidst global economic turmoil. (asd)
The price of silver at the time of this analysis was released was $50.108
- Buy if the price moves within the $50.248 range
- Sell if the price moves within the $49.968 range
Resistance 2: $51.848
Resistance 1: $51.548
Support 1: $49.668
Support 2: $49.368
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
