WTI oil prices fell sharply yesterday after Trump's tweet delaying attacks on Iran, suggesting a de-escalation of the war. However, Iran has firmly stated there will be no negotiations with the US, suggesting the war could drag on. Trying to open a long position after the sharp drop.
Silver is currently around $68, trending upwards over the past three hours. I'm attempting a long position here, placing a stop-loss below yesterday's low. Silver price fluctuations remain volatile due to Middle East tensions.
Silver broke through the resistance level and provided a fairly strong bullish signal. The USD weakened yesterday, and it's estimated that the price has reached a floor that allows for further upside. Here, we'll try modifying a pending order near the current price with a stop-loss to mitigate risk.
Today, the US NFP data will be released, which could trigger volatility. The US/JPY rose yesterday, but the market anticipates potential JPY intervention if the currency weakens too much. Focus on the 160.00 level and try to speculate by opening a sell position with a stop-loss above the nearest high.
Silver prices are highly volatile amidst the war involving the US, Israel, and Iran, with pending orders near the lower band on the M30 timeframe. Based on fundamentals, prices are being measured by the fluctuating performance of the USD during the war.
The pending buy limit order on silver is still active but has not been touched by price movements. Here, I am still maintaining this position because the movement is predicted to remain very volatile amid the Middle East war.
Silver prices briefly surged to around $77, but then pulled back to around $73. The US-Iran ceasefire provided some support as traders moved out of the USD, but the risk of further conflict remains.
