#美联储降息 Silver Price Trend Observation | Market Outlook for 12.12

The Asian session remains strong, yesterday breaking through $64.72 to hit a new all-time high, followed by a slight pullback. Today’s focus is on the resistance zone of $63.7-$64.2. The $61.3 level below is the key support—holding it allows the rally to continue; breaking below would open up room for correction.

Why is it so strong? The answer is simple—Federal Reserve rate cuts are pushing the dollar lower, global inventories are hitting new lows (LBMA inventories have fallen 30%, and the Shanghai Futures Exchange is at a 7-year low), plus industrial demand for solar PV and AI chips is booming, with gains exceeding 113% this year.

From a technical perspective, the daily chart has broken out of the upward channel, and a five-wave extension pattern is underway. The MACD has a strong golden cross, RSI is overbought but supported by volume. However, high levels are starting to show increased volatility, so short-term caution is advised regarding upward selling pressure.

Key levels:
- Resistance: 63.7-64.2 → 64.72
- Support: 61.3 → 60

Trading suggestions: Short positions can be entered around 63.7-64.2, with a stop-loss above 64.72. The first target is $63; if broken, consider adding positions targeting $62. For long positions, if support at 61.3 holds, a small position can be taken with a target of 63-63.7.