Silver prices fall amid positive risk sentiment
Silver prices traded with a negative bias for the third straight day, despite lacking any bearish conviction during the Asian session on Wednesday. Global equity markets continued to rise amid signs of easing US-China trade tensions and US President Donald Trump’s decision to grant tariff flexibility to US automakers. This, along with a modest US Dollar (USD) gain, was seen as key factors undermining demand for silver as a hedge option
As of this writing, silver prices were trading at $32,859
RECOMMENDATION
- Buy if price moves to $33,750
- Sell if price moves to $32,900
Resistance Level 2: $33,139
Resistance Level 1: $32,999
Support Level 1: $32,719
Support Level 2: $32,579
Note:
This article is only an analysis and not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id