ANALYSIS
NQ100 Finds Support from PPIApr 14
Demand for Silver is rising
We've seen the precious metal has been under pressure lately due to the pretty hawkish statements from members of the US Federal Reserve. However, Ukrainian officials’ remarks that they expect Russian forces to attack the eastern part of the country soon, have raised the tensions again, leading to the West to react with more and more sanctions. Hence, we observe rise in the demand for silver. Technically, it has just broken the descending minor wedge pattern upwards and targeted 25.60. If it exceeds this level, we will follow 26.00, the highest level of the last 30 days again. On the other hand, 24.90 and 24.60 will be our support levels.
