Silver Price Forecast: Neutral Outlook Pending Confirmation – 25-04-2024

by Jennifer

In today’s analysis, the silver price continues to navigate within a constrained range, oscillating between the key levels of $26.90 support and $28.00 resistance. This situation has led to a divergence in technical indicators, prompting us to maintain a neutral stance until a clear breach of either level provides confirmation for the next move.

Should the price break below the mentioned support level at $26.90, it may descend towards the next correctional target at $26.00, signaling a bearish correction. Conversely, a breakthrough above the resistance at $28.00 would likely prompt the price to resume its main bullish trajectory, targeting positive areas beginning around $28.95.


For today’s trading range, we anticipate support near $26.80 and resistance around $27.75. Given the current circumstances, our trend forecast remains neutral, reflecting the uncertainty in the market until the price decisively breaches one of the key levels, offering clarity on its next direction.


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