Silver Price Keeps Fluctuating – Forecast for April 29, 2024

by Jennifer

In the current analysis, the silver price continues to oscillate within a confined range delimited by the crucial levels of $26.90 as support and $28.00 as resistance. The conflicting signals from the EMA50, displaying negativity, and stochastic indicators, indicating positivity, sustain our stance of neutrality at present. We await a decisive breach of either the support or resistance levels to ascertain the forthcoming direction more clearly.

It is pertinent to note that a breach of the mentioned support level would likely prompt the price to resume its corrective bearish trajectory, with the subsequent target identified at $26.00. Conversely, surpassing the resistance level is pivotal for the resurgence of the primary bullish trend, potentially propelling the price towards the positive targets of $28.80, followed by $29.80.


Expected Trading Range:

  • Support: $26.70
  • Resistance: $27.60

Trend Forecast: Neutral

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