Silver Strategy - New Treasury Secretary Appointed, USD Returns to High Levels

Fundamental Analysis:

Precious metals experienced a sharp decline yesterday, pressured by two key events:

Trump's Nomination of Bessent as Treasury Secretary

Bessent, viewed as a relatively moderate candidate compared to others, supports Trump’s policies. This moderation is expected to ease tensions during Trump’s presidency and increase the likelihood of policy implementation. Consequently, the USD is likely to remain strong, limiting the upside potential for precious metals.

Potential Israel-Hezbollah Ceasefire Agreement

Reports suggest that Israel and Hezbollah may agree to a ceasefire. Israel's cabinet is expected to vote today on a 60-day ceasefire agreement, including the withdrawal of Israeli forces. If confirmed, this will significantly ease tensions in the Middle East, reducing the safe-haven appeal of precious metals.

Technical Analysis:

The 30-minute chart for silver shows the price moving within a descending channel. There is a possibility of price correction to a supply-demand zone to accumulate momentum. A short position can be initiated at the supply zone, with a stop loss above the channel top and a target at the channel bottom or the current low.

Entry Recommendation: Short at 30.685 or better

Stop Loss: Above 30.860 Target: 30.510

Support Level: 30.054 Resistance Level: 30.860

This analysis is for reference only and does not represent the platform's stance. Stick to your own strategies and implement appropriate risk controls.