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The Federal Reserve will raise interest rates during the year. The rising expectations are an important reason for the early stage, and this week's shock rebound proves the tenacity of the support. But relying on support alone, without strong driving force, it will be even more difficult to open a new pattern for rising prices. Especially under the constraints of non-farm super week.
The U.S. monthly non-agricultural data will be released this Friday. Judging from the price trend, the current silver price is cautious. According to non-farm payrolls expectations, this data may perform well again, which will put a strong pressure on the silver market. In March, the new non-farm payroll employment data in the United States was expected to be 10,000, but the announced value was extremely strong, reaching 1,000. There was unprecedented pressure, but what surprised the market was that the price of silver tenaciously withstood the pressure, falling first and then rising. Among them, the price rose by more than % in a single day on Friday, and the increase was also close to %. Bringing a positive answer to the silver bull market forecast in the second half of the year.
However, in the monthly non-agricultural market, one important reason for silver’s stubborn resistance is that the market’s risk aversion triggered by Brexit at the end of the month increased, which provided certain support to the silver market.
In March, some institutions predicted that the US non-farm payrolls would increase by 10,000. What will the actual announced value be? The silver market is ready to face the storm. No matter how high the interest rate hike expectations are now, the silver market cannot take into account the imminent non-agricultural data. Today, the U.S. small non-farm payrolls will be released, expected to be 10,000. As an outpost of the non-agricultural sector, it has a good predictive effect on the non-agricultural sector. If it performs well, it means that the non-agricultural sector will also perform well to a large extent.
Judging from the hourly chart of silver, the line price began to fluctuate after breaking through the daily average price support yesterday, and there was a strong rebound after the market opened. Many friends say they don't understand it, but if you look at the trend analysis of the past few days, you will understand.
As for today’s silver price, silver still has room to go down. If the next rebound fails to successfully break through the downward resistance line, then silver will have a big decline, so the operational recommendation is still to rebound. Mainly short selling.
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