Silver Price Prediction – Silver Markets Have Declined Slightly

Wednesday’s trading session has been marked by a slight decline in silver prices, as traders remain cautious ahead of the Jackson Hole Symposium.

Silver prices have declined slightly during Wednesday’s trading session, as traders continue to fret over the Jackson Hole Symposium speeches and central banks fight inflation. Raising interest rates could have a negative impact on the value of precious metals, so it is also important to pay particular attention to the formation of two hammers over the preceding two trading sessions.

If we can break above the previous session’s highs, the market is likely to consider the $20 level as support. With all else being equal, the 50-day exponential moving average (EMA) in that region is also relevant. The 50-day exponential moving average (EMA) is falling, and it appears that it could provide considerable dynamic resistance on any rally. In addition, the EMA’s proximity to the $20 level adds to the negative pressure. Aside from interest rates and the U.S. dollar, industrial demand can have a significant impact on the price of silver.

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Global central banks continue to tighten monetary policy, which should hamper economic growth. However, this will exert significant downward pressure on the silver market due to the decline in demand. At this time, we are attempting to determine if we will continue to attempt to create a base, or whether we are about to break below the $18 level. By the time Friday’s talks conclude, we will likely have gained some clarification.

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