Money markets have gathered sharply during Wednesday’s early trading session but brought early gains above the $ 25 level. By doing so, the market is likely to see buying pressure gets enough time, especially as we await the stimulus talks that are likely to get a little friendlier in the United States. If the stimulus talks come through, and the Federal Reserve may jump on board later in the trading session, money is likely to look towards the $ 26 level above . By doing so, it opens up the possibility of moving all the way to the $ 20 level.
Video SILVER 17.12.20
In the short term, withdrawals should continue to offer buying opportunities in a clearly consolidating market. However, it is worth noting that we have created a bit of a “double bottom” near the $ 22 level, which so far has not seen much of a bad effort to break below. Because of this, I think dips continue to offer opportunities for traders to take advantage of value, as the U.S. dollar is certainly on the back foot in general. If we get enough motivation, people will start pricing in the idea of demand building when it comes to money from business practice as well.
Pay attention to gold, it certainly has a special impact on this market as well, so it is worth noting that if and when we see the US dollar fall, that is worth paying attention to The US Dollar index is near the 88 handles.
For a look at today’s economic events, check out our economic calendar.