Current trend
Today, during the Asian session, silver prices are slightly decreasing, leveling the results of the "bullish" dynamics developed due to yesterday's poor US inflation data.
The pace of consumer price growth slowed faster than expected and reached its lows since February, which is likely to create additional obstacles to the US Federal Reserve's monetary tightening. Nevertheless, the comments of the official representatives of the regulator still point to the possibility of reducing the quantitative easing program by the end of the current calendar year. The next meeting of the US Federal Reserve Open Market Committee (FOMC) is scheduled for September 21–22, but investors expect any changes in the vector of monetary policy only by November.
Support and resistance
On the daily chart, Bollinger bands move flat. The price range remains virtually unchanged but remains wide enough for the current level of market activity. MACD falls, maintaining a poor sell signal (the histogram is below the signal line). Stochastic reversed at the lows and grows moderately, indicating a corrective growth attempt in the ultra-short term.
To open new trading positions, it is better to wait for the signals from the technical indicators to be clarified.
Resistance levels: 24.00, 24.37, 24.65, 25.00.
Today, during the Asian session, silver prices are slightly decreasing, leveling the results of the "bullish" dynamics developed due to yesterday's poor US inflation data.
The pace of consumer price growth slowed faster than expected and reached its lows since February, which is likely to create additional obstacles to the US Federal Reserve's monetary tightening. Nevertheless, the comments of the official representatives of the regulator still point to the possibility of reducing the quantitative easing program by the end of the current calendar year. The next meeting of the US Federal Reserve Open Market Committee (FOMC) is scheduled for September 21–22, but investors expect any changes in the vector of monetary policy only by November.
Support and resistance
On the daily chart, Bollinger bands move flat. The price range remains virtually unchanged but remains wide enough for the current level of market activity. MACD falls, maintaining a poor sell signal (the histogram is below the signal line). Stochastic reversed at the lows and grows moderately, indicating a corrective growth attempt in the ultra-short term.
To open new trading positions, it is better to wait for the signals from the technical indicators to be clarified.
Resistance levels: 24.00, 24.37, 24.65, 25.00.