Silver Pressured as Dollar Strengthens
Silver prices on Tuesday (5/27), pressured by a stronger U.S. dollar and easing demand for safe-haven assets. The dollar rebounded after Japan signaled a potential cut in government debt issuance, boosting global bond markets and supporting the greenback.
In addition, sentiment improved as hopes rose for better U.S.-EU trade relations, reducing investor demand for defensive assets such as silver and gold. Brussels announced plans to accelerate negotiations with Washington to avoid a transatlantic trade war, which boosted risk sentiment further.
Until this news was released, Silver price was at $ 33,229
RECOMMENDATION
- Buy if price moves to $ 33,529
- Sell if price moves to $ 32,929
Resistance Level 2: $ 34,129
Resistance Level 1: $ 33,859
Support Level 1: $ 32,629
Support Level 2: $ 32,329
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