Silver price breaches the resistance - Forecast today - 29-03-2024

Silver Price Analysis

Expected Scenario: Bullish Trend

• Silver price ended yesterday with clear positivity, breaching the $24.85 level and closing the daily candlestick above it.
• This activates the positive scenario on the intraday basis and signals a resumption of the main bullish trend.
• We anticipate the price heading towards achieving positive targets, starting at $25.50 and extending to $26.07.
• The bullish bias will likely persist in the upcoming sessions, supported by stochastic positivity.
• Failing to consolidate above $24.85 might trigger a new bearish correction, with initial targets around the $24.30 level.

Expected Trading Range for Today

• Support: $24.70
• Resistance: $25.40

Trend Forecast: Bullish