金荣中国：白银亚盘震荡走低，关注支撑位多单布局

Fundamental Analysis - The spot silver price declined slightly due to the better-than-expected U.S. September non-farm payroll report, which reduced market expectations for a Fed rate cut in December [1] - The U.S. added 119,000 non-farm jobs in September, significantly above the market expectation of 50,000, indicating stronger employment growth momentum [1] - The unemployment rate remained at 4.4%, the highest level since the end of 2021, suggesting a slowdown in economic activity but not a collapse [3] Market Dynamics - The 10-year U.S. Treasury yield was around 4.117%, while the 2-year yield was approximately 3.571%, indicating stable bond yields despite the employment data [3] - The dollar index initially rose to 100.360 before retreating after the employment data was released, which limited the upward momentum for silver [3] - Silver faced selling pressure in the morning session and failed to gain substantial support from the dollar's pullback post-data release [3] Technical Analysis - Silver's upward potential is contingent on maintaining above the 0.382 Fibonacci retracement level of 50.990, with the 20-day and 50-day moving averages in a bullish arrangement [4] - If silver prices fall below the 0.500 Fibonacci retracement level of 49.947, it may test lower levels at 0.618 retracement of 48.903 and previous low of 49.332 [4] - The current market is in an adjustment phase, with a focus on Fibonacci levels and moving averages to determine future trends [4] Trading Strategy - The current trading strategy suggests a bullish position near the support level of 49.50, with a stop loss at 49.10 and a target range of 50.60 to 51.30 [7] - The overall market sentiment for silver is currently bearish due to strong employment data, stable Treasury yields, and a modest dollar retreat [4][7]