Let’s Explore Silver Trading Opportunity for the Day; July 07, 2021
Let’s Explore Silver Trading Opportunity!
Silver is a precious metal that has long been valued for its use in different industries and therefore trading in silver can be both challenging and rewarding. But let me tell you one thing that silver could perform better than stocks and bonds when there is Global Political unrest and during periods of hyperinflation. In other words, buying silver is a one way to bet on the strength in emerging economies.
- Silver remained highly volatile in previous session and touched $26.01 mark on robust U.S. economic data.
- Today the pair made intraday high at $26.38 and low at $26.07 mark.
- A day chart as well as H1 chart with triple EMA confirms bearish trend for the time being. Current upside movement is short term trend correction only.
- A sustained close above $26.40 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below$26.09 on H1 Chart will check further downside supports too.
Take a look and do trade wisely!