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Silver Tests Key Resistance at $32.50 Amid U.S.-China Trade Talks
Silver Tests Key Resistance at $32.50 Amid U.S.-China Trade Talks
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Silver prices hover NEAR a critical resistance level at $32.50 as market participants await developments in U.S.-China trade negotiations. The metal’s trajectory remains constrained by existing tariffs, including a 10% U.S. duty on British goods, despite recent tariff reductions between the U.S. and UK.
Technical indicators suggest an impending breakout from a tightening wedge pattern, with decisive levels at $32.58, $32.94, and $33.24. A sustained MOVE above the 50 EMA at $32.58 could signal bullish momentum, prompting traders to consider long positions with appropriate risk controls.
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