Silver price decline weakened near the lower boundary line of the lower band. After last week Silver weakened for 4 consecutive days, in last Monday's trading the price sought balance near the lower band line.
Silver almost depicts a Doji-like indecision candle with short wicks at the top and bottom of the candle. The decline in silver prices may be due to declining Chinese demand due to the economic slowdown.
Apart from that, yesterday there was no important news that attracted traders' attention, so traders had to wait for the next important event.
Joe Biden's resignation as a candidate for the 2024 election is hot news in the US which could change the American political map.
Currently, there is no important economic schedule from the economic calendar according to Forexfactory but there is medium impact news that may be of interest to investors, Existing Home Sales, and the Richmond Manufacturing Index
View attachment 7209
Silver almost depicts a Doji-like indecision candle with short wicks at the top and bottom of the candle. The decline in silver prices may be due to declining Chinese demand due to the economic slowdown.
Apart from that, yesterday there was no important news that attracted traders' attention, so traders had to wait for the next important event.
Joe Biden's resignation as a candidate for the 2024 election is hot news in the US which could change the American political map.
Currently, there is no important economic schedule from the economic calendar according to Forexfactory but there is medium impact news that may be of interest to investors, Existing Home Sales, and the Richmond Manufacturing Index
View attachment 7209
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