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Silver: Rally stretched near term – OCBC

OCBC strategist Christopher Wong describes Silver’s recent surge toward USD87–88/oz as driven mainly by technical momentum. He notes industrial metals are also better bid and that softer US–China rhetoric could support Silver further.

🔗 Source

💡 DMK Insight

Silver’s push toward USD87–88/oz isn’t just a technical fluke—it’s a signal of broader market dynamics at play. With industrial metals gaining traction, this uptick in silver could reflect increased demand from sectors like manufacturing, especially if the US–China trade tensions continue to ease. Traders should keep an eye on this momentum, as a sustained break above USD88 could open the door for further gains, potentially targeting the next resistance levels. On the flip side, if rhetoric turns sour again, we might see a quick reversal, so be ready to adjust positions accordingly. Watch for key indicators like the RSI and MACD on the daily chart for overbought conditions, and keep tabs on any news from the US and China that could impact market sentiment. A close below USD87 could signal a pullback, while a close above could reinforce bullish sentiment.

📮 Takeaway

Monitor silver’s performance around USD87–88/oz; a close above could trigger further bullish momentum, while a drop below may indicate a reversal.

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