On Thursday (February 13th), spot silver traded at $32.207 per ounce, unchanged for the day, and the market trend showed narrow fluctuations. Although silver has experienced a certain pullback in the short term, the subsequent strong rebound indicates that the market's demand for this metal remains strong. Recently, the US economic data has attracted high attention from the market, especially the unexpected Core Consumer Price Index (CPI) data, which has sparked more discussions on the trend of silver prices. Overall, silver still faces strong pressure around $32, and the technical resistance zone between $32.35 and $32.50 has not yet been broken through.

market analysis

From a technical perspective, silver is currently in a period of consolidation and volatility. The daily chart shows that although silver prices have recently hit the 32nd line, they have encountered significant resistance from the range of 32.35 to 32.50 multiple times. The MACD indicator currently shows short-term trading pressure, with DIFF at 0.071, DEA at 0.090, and MACD value at -0.037, indicating that the market is in a certain consolidation stage. The RSI is 53.039, maintaining around 50, indicating that the market has not yet overheated and is still oscillating within the normal range.

One of the main reasons for this oscillation is the release of US inflation data. The latest core CPI is 0.4%, exceeding market expectations by 0.3%, further confirming the Federal Reserve's stance on maintaining a tight monetary policy. The market generally believes that metal prices will face difficulties in rising as the Federal Reserve continues to implement tightening policies, especially for metals such as silver that are both precious metals and have industrial demand, and the impact may be more complex. However, it is worth noting that rising inflation usually provides some support for precious metals, as reflected in the reaction of silver prices.

On the other hand, the support level of the silver market is still relatively clear, especially around $31. This price range has attracted buying interest multiple times, and the 50 day moving average is approaching this area, further enhancing the effectiveness of this support range. If the silver price rebounds again to around $31, there may be a new round of buying opportunities.

In addition to short-term technical factors, the price trend of silver, as an industrial precious metal, is also influenced by the global economic situation. A higher US CPI data may mean that the Federal Reserve's monetary policy will further tighten, thereby exerting negative pressure on silver. However, at the same time, sustained high inflation may also provide long-term support for the metal market, especially in the context of global economic growth uncertainty, where investors may be more inclined towards safe haven assets.

Future trend outlook

Based on the current technical and fundamental analysis, silver may continue to consolidate around $32 in the short term, with resistance levels concentrated in the range of $32.35 to $32.50. If silver can successfully break through this technical resistance, further upward space may be opened up, and the target price is expected to break through to $35. However, prior to this, the market may experience a period of sideways volatility, accompanied by more intense fluctuations.

For investors, a short-term pullback to support levels around $31 can still be seen as a buying opportunity, especially with the support of the 50 day moving average. On the other hand, if silver continues to be constrained by the resistance of $32.50, the market may face a prolonged period of volatile consolidation. Therefore, investors need to remain vigilant and pay attention to the upcoming economic data and the policy direction of the Federal Reserve, which will directly affect the price fluctuations of silver.

summary

Silver is still in a volatile consolidation phase, with support around $32 and technical resistance in the $32.35 to $32.50 range being the key factors in the market. In terms of fundamentals, the unexpected inflation data from the United States has put pressure on the metal market, but in the medium to long term, the upward trend in inflation may provide support for silver. If the market breaks through the technical resistance of $32.50, silver is expected to move towards a higher price, but it may still face severe fluctuations and volatility in the short term.