$XAGUSD Silver trading - it's best to view pullbacks as buying opportunities:
SubscribeWe commit to never sharing or selling your personal informationhave been oscillating during the trading session on Wednesday, hitting the $25 per ounce mark. This price level has been critical in the past and therefore, it is not surprising to see some resistance at this level. The $25 level is a crucial psychological point for the silver market, and we have seen this level hold multiple times before.
Hence, it is reasonable to assume that silver may pull back a bit from here and look for support near the $24.60 level, where resistance was seen previously.The next support level for silver is the $24 level, which is where we saw the launch from during the previous session.However, such an outcome seems highly unlikely given the current market conditions.
The market is expected to continue to see a lot of volatile behavior due to the weak economic numbers in the United States. If the economic situation worsens, it could lead to loosening monetary policy sooner than expected, which could be beneficial for precious metals. However, it's important to note that silver has an industrial component to it that may be affected if the economy heads towards a recession.
It's important to note that the silver market is currently very bullish, so shorting this market would not be recommended. However, if there is a huge rush toward safety in the form of bonds, it could lead to a change in the market.Silver is a highly volatile market that is influenced by numerous factors, including economic data, monetary policy, and market sentiment.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silver Price Forecast: Options market signals discomfort with XAG/USD rally to $25.00Silver Price Forecast: Options market signals discomfort with XAG/USD rally to $25.00 – by anilpanchal7 Silver XAGUSD Options Markets RiskAppetite
Read more »
Silver Forecast: Continues to Grind Against a Block of ResisSilver had a mixed trading session on Tuesday, moving back and forth in a narrow range.
Read more »
Hero Nashville police officers recall rushing into Covenant School ‘without hesitation’Audrey Hale, 28, killed three children and three staffers during a 14-minute shooting spree on March 27 inside the private Nashville elementary school.
Read more »
Indian refiners' February crude processing stays elevated amid robust demandIndian refiners' crude oil processing remained near record levels in February, provisional government data showed on Wednesday, catering to rising demand in the world's third biggest oil importer and consumer.
Read more »
Silver Futures Price - Investing.comGet detailed information about Silver Futures including Price, Charts, Technical Analysis, Historical data, Reports and more.
Read more »
Silver Price Analysis: XAG/USD buyers eye $25.00 after breaking resistance around $24.25Silver price is eyeing to extend its gains past the $25.00 a troy ounce after hitting a new YTD high at $24.98. Since then, the XAG/USD retreaded some
Read more »