Silver Price Awaits Confirmation Signal – March 28, 2024 Forecast

by Jennifer

In the current analysis of silver prices, the market exhibits a range-bound behavior, awaiting a definitive breakout for directional clarity.

Trading Range Bound

Advertisements

Silver prices remain confined within the parameters of key support at $24.30 and resistance at $24.85. Neutrality persists in the market until a breakout occurs, providing a clear signal for market participants.

Advertisements

Technical Indicators

Technical indicators depict a sense of negativity, suggesting the potential for a bearish trend. In the event of a break below support, a bearish correction towards $23.85 and $23.40 becomes feasible.

Conversely, a breakout above resistance at $24.85 could signal a return to the main bullish trend, with targets set at $25.50 and $26.07.

Trading Range

For today’s trading session, the anticipated trading range for silver prices is expected to span between $24.10 as support and $25.00 as resistance.

Trend Forecast: Neutral

Given the current state of neutrality and the absence of a clear breakout, the forecast for silver prices remains neutral. Traders are advised to exercise caution and await confirmation signals before taking significant positions.

You May Also Like

blank

Bnher is a comprehensive futures portal. The main columns include futures market, futures exchanges, futures varieties, futures basic knowledge and other columns.

[Contact us: [email protected]]

© 2023 Copyright  bedgut.com – Futures Market, Investment, Trading & News