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Silver Price Forecast: Will Channel Breakdowns Force Silver Price Levels to Drop?

From fxleaders.com

Silver is holding steady around $76.03, down a minor 0.53% intraday as the metal fights for some short-term buying interest. The precious white metal remains squeezed within a bullish blue channel on the two-hour time-frame under intense technical pressure, as the market reacts to the sudden pivot towards a more hawkish macro monetary environment in the face of the underlying physical structural strength of long term industrial demand. What’s Driving Silver Today? Steady Structural Deficit: Fundamental supply/demand dynamics remain robust. The World Silver Survey released earlier today by the Silver Institute has ... (full story)

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  • Category: Technical Analysis