Note

SILVER PRICE NEWS: DOWNBEAT OPTIONS MARKET BIAS, FIRMER US DOLLAR FAVOR XAG/USD BEARS AROUND $22.50

· Views 45



Silver Price (XAG/USD) remains pressured at the lowest level in nearly two months after falling in the last four consecutive days, making rounds to $22.40 amid the early hours of Thursday’s Asian session.

In doing so, the Silver bears take a breather after justifying the bearish signals from the options markets amid the broad US Dollar strength. However, a lack of major data/events prods the US Dollar bulls and the XAG/USD sellers of late.

Also read: US Dollar Index: DXY renews six-week high around mid-103.00s as Fed Minutes flag inflation woes

That said, the one-month risk reversal (RR) of the Silver price, a gauge of the spread between the call and put options, dropped in the last three consecutive days to -0.110 by the end of Wednesday’s North American session.

With this, the weekly RR braces for the third consecutive negative figures, at -0.350 by the press time, which in turn keeps the Silver bears hopeful. It’s worth noting that the weekly RR drops the most, so far, since late June


Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.