Silver (XAG/USD) struggles to capitalize on the previous day's strong move up beyond the $28.00 round-figure mark and meets with some supply on Tuesday.
Silver comes under renewed selling pressure and erodes a part of the overnight strong gains. A move beyond the 100-period SMA on the 4-hour chart will pave the way for further gains. The technical setup on the daily chart warrants some caution for aggressive bullish traders. Silver struggles to capitalize on the previous day's strong move up beyond the $28.00 round-figure mark and meets with some supply on Tuesday.
Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors.
Commodities Technical Analysis XAGUSD Silver
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