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Silver Tests $80 Ahead Of NFP - What's Next?

Seeking Alpha
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1 min read
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⚡ Quantum Brief
Silver is the sole precious metal gaining in today’s session, trading near $80 ahead of the Non-Farm Payrolls report, sparking trader urgency over potential entry points or caution. Technical signals conflict: while silver climbed above its 50-day moving average, the RSI indicates bearish rejection, creating uncertainty about short-term momentum. After hitting a $64 low, silver has rallied nearly $20, forming a new intermediate trading range that suggests volatility but no clear directional breakout yet. Traders face a dilemma—whether to capitalize on the recent uptick as a discounted opportunity or avoid exposure amid mixed technical and macroeconomic indicators. The analysis highlights silver’s divergence from other metals, emphasizing its unique market dynamics as macroeconomic data, like NFP, could dictate the next major price movement.
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MarketPulse by OANDA Group408 FollowersFollow5ShareSavePlay(5min)CommentsSummarySilver is the only precious metal trading higher in today's session, leaving traders with a sense of urgency.The action on the daily is not showing much certainty, with silver trading back above its 50-day moving average but the RSI showing opposite, bearish rejection signs.Having troughed at $64, silver is trading close to $20 higher in the establishment of a new intermediary trading range. natatravel/iStock via Getty Images By Elior Manier Silver is the only precious metal trading higher in today's session, leaving traders with a sense of urgency: is it time to enter at a discount, or is it better to stay away?This article was written byMarketPulse by OANDA Group408 FollowersFollowMarketPulse is an award-winning industry analysis and news site service created by OANDA Business Information & Services, Inc. Covering forex, commodities, global indices and more, our goal is to give timely, relevant and informative commentary on major macroeconomic trends, technical analysis and worldwide events impacting the industry.

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