Silver Strategy - Geopolitical Risks Remain in Focus, Safe-Haven Funds Provide Support
Fundamental Analysis: Silver opened on Monday with a significant drop, but the current short-term bullish trend remains intact. The decline may be attributed to the unwinding of safe-haven buying pressure before the weekend. Investors are still closely monitoring the Eastern European conflict, especially after Russian President Putin's statement last week indicating a lowered threshold for nuclear strikes, which could escalate into a larger-scale conflict affecting neighboring countries. This has driven safe-haven funds into related commodities, boosting precious metals as they rebound from their post-U.S. election declines. Technical Analysis: Suggested entry: Buy at 31.165 or better Stop-loss: Below 30.935 Target: 31.395 Support level: 30.935 Resistance level: 31.464
The 15-minute silver chart shows that prices are within an upward range and may retrace to the supply-demand zone to regain momentum. Therefore, long positions can be taken at the demand zone, with stop-loss placed below the bottom of the range, and targets set at the range's top or the current trend's high.
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