Silver price fell on Wednesday as market participants awaited the release of the Fed’s preferred inflation gauge, the core Personal Consumption Expenditure (PCE) Price Index, after releases from major countries hinted at a reacceleration of inflation.
Silver drops influenced by Fed's Core PCE Price Index anticipation. Last week's bearish engulfing pattern and RSI hint at more declines. Support levels: $28.28 , $28.00, $27.01 , $26.82 . Resistance points: $29.17 , $31.54 , $32.00, $32.51 . Silver price fell on Wednesday as market participants awaited the release of the Fed’s preferred inflation gauge, the core Personal Consumption Expenditure Price Index, after releases from major countries hinted at a reacceleration of inflation.
00 mark, followed by the May 8 swing low of $27.01, ahead of the 100-DMA at $26.82. Conversely, if XAG/USD resumes its uptrend, the next resistance level would be the 50-day moving average at $29.17. Surpassing this level would target the June 7 high of $31.54. Clearing this would aim for $32.00 before challenging the year-to-date high of $32.51. XAG/USD Price Action – Daily Chart XAG/USD Overview Today last price 28.77 Today Daily Change -0.14 Today Daily Change % -0.48 Today daily open 28.
XAGUSD Metals Technical Analysis Silver
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