Silver $XAG is down 2.56% over 24 hours, at 49.07, not far from the 24-hour low of 48.73.
What happened: The price of OKX silver USDT perpetual contracts fell from a 24-hour high of 51.38 to 49.07, with a low of 48.73. The day's range has already exceeded 2 dollars. Notably, this is more than minor fluctuation: after retreating from its high, the price has been trading near the low, suggesting short-term selling pressure is still being released and the price is hovering near the bottom of its 24-hour range.
What to watch next: First, see whether 48.73 holds. If it breaks, watch for the possibility that the bottom of the range gives way. If the price stabilizes and rebounds, 51.38 is the first high it will need to reclaim. Commodities are heavily influenced by macroeconomic conditions and fund flows, so chasing gains or selling into declines in the short term carries considerable risk.
#白银 #Commodities
What happened: The price of OKX silver USDT perpetual contracts fell from a 24-hour high of 51.38 to 49.07, with a low of 48.73. The day's range has already exceeded 2 dollars. Notably, this is more than minor fluctuation: after retreating from its high, the price has been trading near the low, suggesting short-term selling pressure is still being released and the price is hovering near the bottom of its 24-hour range.
What to watch next: First, see whether 48.73 holds. If it breaks, watch for the possibility that the bottom of the range gives way. If the price stabilizes and rebounds, 51.38 is the first high it will need to reclaim. Commodities are heavily influenced by macroeconomic conditions and fund flows, so chasing gains or selling into declines in the short term carries considerable risk.
#白银 #Commodities