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The trend of silver first declines and then rises, so short selling needs to be cautious
At 0:00 a.m. Beijing time on Thursday, the Federal Reserve will release the minutes of its monthly monetary policy meeting. The Federal Reserve's previous monthly resolution kept interest rates unchanged and expressed a relatively hawkish view, clarifying its expectations for three interest rate hikes this year. In addition, in last week's congressional testimony by Federal Reserve Chairman Yellen, Yellen once again confirmed the view of good growth in the U.S. economy. Investors are paying attention to the content of the monthly resolution announced this time and how many Federal Reserve officials view the prospects of future interest rate hikes. In addition, investors trading crude oil should also pay close attention to crude oil inventory data. Since the U.S. market is closed on Monday, the data has been postponed to the early morning of Wednesday, Beijing time. Congjia hereby reminds investors to pay attention.
Silver closed out a small positive line with upper and lower shadow lines on Monday (Month). Silver touched the highest and lowest. Silver rose moderately on Monday, continuing to be above the previously mentioned early resistance. The short-term upward trend is intact. The strategy maintains a bullish view, and the target continues to point to the first line. The red kinetic energy column shrinks, the stochastic indicator moves flat in the Bollinger Band, and silver is below the upper track and the short-term moving average is upward. Silver prices fell modestly in Asia on Tuesday. The resistance above silver is , and the initial support below is . Silver first declined and then rose on Tuesday. The overall upward trend still exists. Silver prices continue to be above the previous resistance. The short-term upward target is still looking at the previously mentioned first line.
How to place orders when the silver rebound is not over yet
The current market expectations for the Federal Reserve to raise interest rates have increased, which has led to increased pressure for a correction in international silver prices after a sharp rise. However, given that factors such as Trump’s New Deal and political turmoil in Europe that have supported the recent rebound in silver prices still exist, and there are still doubts about monthly interest rate hikes, it is expected that silver’s rebound has not ended, and the current decline is more of a consolidation near key points. Investors should be extremely cautious when short selling.
Judging from the four-hour chart, the daily moving average crosses the daily average and the daily moving average moves upward. The price is running above the Bollinger middle track. The Bollinger opening shows signs of contraction. The fast and slow lines in the attached picture are running near the middle line, green. Energy columns emerged, and the three-line stochastic indicator turned upward. The support below is focused on the USD, and the resistance above is initially focused on the USD mark. On the whole, silver is in a consolidation trend, and it is recommended to sell high and buy low during the day. When doing unilateral operations today, we need to focus on this important integer mark. If silver can continue to stand firm at the top today, then we can continue to look at the USD line and focus on the restoration. Otherwise, it will be under pressure to fall. Below, we need to pay attention to the support of. We can place long orders above this support level.
Silver operation strategy:
, go short when the silver price reaches .-., stop loss .. points, the target is .-., break. move down to near.
&&, if the silver price stands firm and supports, go long below to -. The target is -, break through and move up to near.
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