Silver Price Forecast: Technical Set-up Favors Bearish Traders

Silver Price Forecast: Technical Set-up Favors Bearish Traders

Silver Price Forecast: The technical set-up seems tilted firmly in favour of bearish traders and supports prospects for an extension of the ongoing depreciating move for the silver (White Metal). Hence, a subsequent slide below the $21.00 mark, towards challenging the YTD low around the $20.45 area touched on May 13, now looks like a distinct possibility.

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MCX Silver Low 43702 Buy 100—500 Lots and Relaxxxxxx – Neal Bhai

MCX Silver Low 43702 Buy 100—500 Lots and Relaxxxxxx – Neal Bhai

Gold Silver Reports – The U.S. central bank slashed rates by 50 basis points, cutting rates outside the normal cycle of meetings for the first time since 2008. Speculation is rife that the European Central Bank will respond to the Fed’s “decisive” interest rate cut with easing of its own.

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