Silver prices exhibited a mild uptick in today’s trading, ascending by 0.23% to $27.34. The technical landscape for Silver shows it trading just above its pivot point at $27.04, suggesting a tentative bullish undertone. Immediate resistance levels for Silver are marked at $27.74, followed by higher thresholds at $28.38 and $28.95, which may restrict upward momentum if approached.
Conversely, support begins at $26.61, with further protective levels at $26.01 and $25.36. These figures could provide a floor for price dips, potentially stabilizing declines. The 50-day and 200-day Exponential Moving Averages, positioned at $27.06 and $26.69, respectively, lend additional support, hinting at possible bullish reversals. Technical indicators and price formations indicate that silver could remain bullish above the $27 mark.
Arslan, a webinar speaker and derivatives analyst, has an MBA in Finance and MPhil in Behavioral Finance. He guides financial analysis, trading, and cryptocurrency forecasting. Expert in trading psychology and sentiment.