Silver Forecast: Market Consolidates Amid Volatility

📆 02/08/2023 12:00:00
📰 Daily_Forex

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During Tuesday's trading session, silver experienced a minor pullback, contributing to the market's overall consolidation- Forecast Forex

A breakdown below the 50-Day EMA could result in silver dropping to the 200-Day EMA, with the $23 level serving as a crucial support level.

Traders should pay close attention to the US Dollar Index, as it exhibits a negative correlation to the silver market. Scaling into positions gradually might be a favorable approach to navigate silver's turbulent market conditions effectively.

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