Silver Strategy - Safe-Haven Demand Drops Significantly, Gold and Silver Sell-Off

Fundamental Analysis:

Last night, the Dallas Fed Manufacturing Index for November in the US improved slightly from -3 to -2.7, but the market's focus this week remains on Trump's Treasury Secretary nominee, Bessent, and the October PCE data to be released on Wednesday. As a result, this data had no significant impact on gold and silver.

Bessent explained that Trump's tariff threats are merely a negotiation tactic, reducing market concerns about a potential trade war. Additionally, multiple Israeli media outlets reported that Israel's cabinet will approve a ceasefire agreement with Lebanon's Hezbollah, signaling an easing of Middle East tensions. This further diminishes the safe-haven demand for gold and silver, leading to short-term selling pressure on precious metals.

Technical Analysis:

On the 1-hour chart, silver has broken below the previous wide-ranging consolidation zone (shaded area), and the dual moving averages have formed a death cross, indicating short-term bearish control. Traders without positions can consider short entries at short-term resistance. The current price has rebounded to the upper resistance zone, making it a viable entry point.

Trade Recommendation:

Short on rebound to 30.29 with light positions.

Target: 29.75 Stop Loss: 30.65

Support Level: 29.75 Resistance Level: 30.63

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