SILVER
Silver is trading in an upward trend over the medium term, which opens the way for further gains and the formation of new highs. However, if the support level at $60.30 is broken, prices may target the $56.90 level during today’s trading session.
|
Support |
60.30 | 56.90 |
| Resistance | 62 |
62.80 |
Silver continued its positive performance today, supported by rising investment demand and growing market bets on a more accommodative monetary policy, alongside a weaker dollar and lower bond yields, which enhanced the appeal of the white metal as a hedging asset. From a technical perspective, prices are holding above the key support levels that were recently breached, supporting the continuation of the short term bullish momentum and targeting higher levels, while any potential pullbacks are expected to remain within natural profit taking activity as long as trading stays above pivotal support zones.
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