#Silver

Silver prices traded near $32 an ounce on Tuesday, staying close to a one-month high, as Chinese policymakers unveiled plans for additional economic stimulus, boosting demand expectations in the world’s largest consumer of the metal.

💰Silver, along with other precious metals, has benefited from growing expectations that the U.S. Federal Reserve will cut interest rates again this month. Markets are currently pricing in a roughly 90% chance of a 25 basis point rate cut, up sharply from 73% a week ago.

〽️Technically, silver is looking in its current corrective movement for a support level to pivot and rush again, so that the rate fluctuates within the daily trading range between $32 and $31.55 per ounce, so silver is likely to continue the corrective decline to its maximum levels of $31.50 per ounce and then rush again to target resistance levels around $32 and $32.45 per ounce

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