Silver price (XAG/USD) hovers above the crucial support of $29.40 in Monday’s New York session.
Silver price holds the key support of $29.40 with a focus on US core PCE Inflation data. The US core PCE inflation will provide cues about when the Fed will start reducing interest rates. Silver price oscillates in a Falling channel chart formation. Silver price hovers above the crucial support of $29.40 in Monday’s New York session.
The core PCE price index data is Fed’s preferred inflation measure, which will provide fresh cues on when and how much the central bank will reduce interest rates this year. Silver technical analysis Silver price trades in a Falling Channel chart pattern formed on a four-hour timeframe in which each pullback is considered as selling opportunity by market participants. The white metal hovers near the 50-period Exponential Moving Average near $29.80, indicating indecisiveness among investors.
XAGUSD Fed Dollarindex Supportresistance Silver
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