Silver Sticks to gain near daily high around $19, yellow metal steadies above $17000
16 Sep 2022
The Silver futures fell by 0.66% to 19.142, platinum contract down by 0.32% to 899.10
Gold prices mark above $17000 on Wednesday, remaining after stronger than expected US inflation data pointed to more dollar strength in the next week, Copper prices were flat on Wednesday after a drop of over 2% in the prior session
Silver futures remain negative. let us see what are the key supports and resistance levels on silver. Silver breaks the demand zone of $18.23-$18.30. Many investors say this is the right time to invest in silver. The current price of silver futures is 19.142 fell (0.66%).
The world’s largest copper mine Chile’s Escondida supply is tighter because of the strike, prices of the copper trended higher over the past few trading sessions, slowing economic growth across the globe, and interest rate keep rising is expected to increase demand and tightness in supply
On technical fronts, the Silver Futures; RSI stood at 51.800, and currently, it is trading below all SMA except MA(20). So, the SELL position can be taken with the following target and stop-loss: