Analyst sees silver retesting resistance
An analyst says silver broke $85.31 resistance and predicts a retest amid upcoming CPI data, advising buys for the order.
The analyst, going by Potassium, highlighted the $85.31 level as a key area to watch for potential bullish continuation. A retest of this level could offer an opportunity to confirm the breakout and establish a new support zone. Upcoming CPI data is expected to influence silver prices, potentially triggering the retest the analyst anticipates. Higher-than-expected inflation figures could boost silver's appeal as an inflation hedge. The analyst's recommendation to buy on the retest suggests a bullish outlook for silver in the short term. This strategy aims to capitalize on potential upward momentum following the confirmation of the breakout.
