Silver could be heading to a new 2024 high
Following the release of today’s weaker-than-expected US CPI report, the US dollar slumped and bond prices rallied. This helped to fuel a fresh rally in precious metals. As well as silver we saw big gains for the small-cap Russell 2000. With rate cut expectations on the rise, our silver forecast remains positive.
Given the recent break out from the bull flag pattern, silver could be heading above $32.50, the high from May. But the potential is there for a massive continuation thereafter, with $35 being the next immediate target.
By Fawad Razaqzada, market analyst at FOREX.com
Given the recent break out from the bull flag pattern, silver could be heading above $32.50, the high from May. But the potential is there for a massive continuation thereafter, with $35 being the next immediate target.
By Fawad Razaqzada, market analyst at FOREX.com
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.