【Silver Strategy】Awaiting Election Results, Silver Stuck in Volatility

Fundamental Analysis

Last night, the U.S. factory orders and durable goods orders for September both showed negative growth, with values close to previous figures, indicating a potential further slowdown in the U.S. economy. This outlook could support the Federal Reserve’s easing stance, providing a favorable environment for precious metals. However, the market is primarily waiting for clear results from the U.S. presidential election, rather than speculating on either candidate's victory. RealClearPolitics odds show Trump and Harris with nearly equal chances of winning, and Bloomberg reports suggest that speculative positions on the VIX have turned net long, hinting that investors are betting on increased volatility in the U.S. stock market. This has led to a preference for holding cash to counter volatility risks, limiting fresh inflows into precious metals.

Technical Analysis

On the hourly Bollinger Bands chart, silver remains in low-level consolidation, with a consistent downward structure. The high points within the consolidation range remain untested, indicating persistent selling pressure. Thus, short positions can be entered at short-term resistance for more aggressive traders, while cautious investors may wait for a correction to end before seeking low-entry buying opportunities.

Trading Recommendation

Enter a light short position if silver rebounds to 32.76, with a target of 32.23 and a stop loss at 33.12.

Support Level: 32.23 Resistance Level: 33.11

Disclaimer: The above information is for reference only and does not represent the platform's position. Stick to your own strategy and ensure proper risk management.