BREAKING: Precious metals in retreat amid stronger USD

5:45 PM 28 October 2022

The strengthening of the dollar puts pressure on the precious metals market. Both gold and silver fell sharply on Friday. Looking at the SILVER chart on the H1 interval, a short-term support at $ 19.05 is currently being tested, which is marked with a lower limit of the 1:1 structure. The previous three corrections had almost identical range, so if history were to repeat itself, another attack on the resistance level at $ 19.75 is possible.

SILVER interval H1. Source: xStation5

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