๐ชโก๏ธ The Federal Reserve raises rates for the first time since 2023.. and silver rises 3% in a week!
๐ What happened:
๐น The Federal Reserve raised rates by 25 basis points to 3.75%-4.00% on Wednesday, the first hike since July 2023
๐น The market expected this hike, but the hawkish tone surprised some
๐น Silver is trading at $66.76, the highest level since September 10, with a weekly gain of +3%
๐น Technical support: price is above the 50- and 100-day moving averages at 63$ and 66$ , respectively
๐น Next resistance: 68.11$ , then 72.17$ , then the 200-day moving average at 73.18$
๐น The RSI is at 55โbullish, but not overbought
๐น The ADX is just 12.. a weak trend environment
๐ค Question: Is silver preparing to break through 70$ despite the tightening by the Fed? Or will the strength of the dollar cap the rise?
๐ Follow me for the full analysis tonight at 9 PM GMT.
#ุงููุถุฉ #XAGUSD #ููุฏุฑุงูู #ุชุญููู_ููู #BTCBreaks80K
๐ What happened:
๐น The Federal Reserve raised rates by 25 basis points to 3.75%-4.00% on Wednesday, the first hike since July 2023
๐น The market expected this hike, but the hawkish tone surprised some
๐น Silver is trading at $66.76, the highest level since September 10, with a weekly gain of +3%
๐น Technical support: price is above the 50- and 100-day moving averages at 63$ and 66$ , respectively
๐น Next resistance: 68.11$ , then 72.17$ , then the 200-day moving average at 73.18$
๐น The RSI is at 55โbullish, but not overbought
๐น The ADX is just 12.. a weak trend environment
๐ค Question: Is silver preparing to break through 70$ despite the tightening by the Fed? Or will the strength of the dollar cap the rise?
๐ Follow me for the full analysis tonight at 9 PM GMT.
#ุงููุถุฉ #XAGUSD #ููุฏุฑุงูู #ุชุญููู_ููู #BTCBreaks80K
