Silver Futures Analysis: Bearish Pressure Continues as Traders Wait for President Trump’s Policy Changes
In the world of financial markets, silver futures are currently under bearish pressure despite strong demand for silver in solar panels globally. Traders are closely watching the crucial $30.646 resistance level, as silver teeters on the edge after a sharp reversal from December lows.
With the upcoming inauguration of President Donald Trump on January 20, 2025, uncertainty looms as he may not favor further interest rate cuts and could impact the precious metals market with potential policy changes, including a shift towards cryptocurrency.
Technical analysis reveals that silver futures are struggling to break through significant resistance levels, with key moving averages indicating a bearish trend. The weekly chart shows a series of bearish candles, while the daily chart highlights a bearish crossover among key moving averages.
For traders navigating this critical moment, it is essential to monitor support and resistance levels carefully. A breakout above $30.354 could signal a potential reversal, while failure to do so may indicate further downside for silver futures.
In conclusion, traders should be cautious and consider initiating short positions if silver fails to break above key resistance levels. This analysis is based on technical observations and does not constitute financial advice. It is important for readers to make trading decisions at their own risk.