Baishan Weiye Information-Analysis of the reasons for the rise in silver prices from both technical and news aspects

Yesterday, precious metals ushered in a long-awaited rise. After more than a week of volatility, silver rose. Silver rose by about %, the largest single-day increase in the past six weeks.
Regarding the rise in the market yesterday, on the one hand, the market believes that it is a bullish explosion after a technical breakthrough, and on the other hand, it is also a rise caused by the fundamental black swan event.
Let’s take a look at the factors behind the rise in silver prices from a technical perspective
Analyze the reasons for the rise in silver prices from both a technical and news perspective. How long can the rise in silver prices last?
Silver Price Chart
As shown in the chart above, after the silver price stood at the high point of the recent shock range, it completed the long and short direction selection. Yesterday, the silver price started to stand at this point. The rise also shows that the short positions after the long-term market fluctuations have been completely exhausted, and the long positions have been able to break out.
Judging from the current silver price trend, as silver breaks through the resistance, the early resistance has been converted into a support level. In the future, silver is expected to step on the above support level and start to slowly rise. If there is insufficient buying power during the session, the silver price may In all cases, the above-mentioned support level has been stepped back again.
From a fundamental point of view, the factors for the rise in silver prices are as follows
Due to the reopening of the investigation into Hillary’s email scandal, Trump has caught up with or even overtaken Hillary in many polls, which increased Due to the uncertainty of the election next week, the market was plunged into panic. The panic index jumped to a monthly high, funds flowed from risky assets to safe-haven assets, U.S. stocks fell, and U.S. bonds and precious metals rose.
, The performance of the external market was stable. The Bank of Japan kept its monetary policy unchanged and the British manufacturing data improved. The Japanese yen and the pound rebounded from lows. The U.S. dollar index was under pressure due to the lack of data and news support. The fall from highs also gave Precious metals will definitely boost.
, The euro zone announced on Monday hit a two-year high, while the U.S. monthly core price index, the Fed’s favorite price indicator, hit the largest increase in three months, indicating signs of a return to inflation in advanced economies and investors are also preparing for future inflation. Get ready to go higher.
The U.S. Department of Commerce (D) announced on Tuesday that U.S. monthly construction spending fell for the second consecutive month. The main reason was that private non-residential construction recorded the largest decline in nine months, which may lead to a downward revision of the third-quarter economy. The growth forecast has triggered market expectations for a cooling of the Federal Reserve's decision to raise interest rates tomorrow.
This month’s Federal Reserve decision is not favored by the market. The Fed is expected to keep interest rates unchanged. Yesterday’s breakthrough was part of market expectations.