Silver Price Forecast: Trading in a Tight Range – May 17, 2024

by Jennifer

Expected Scenario

Silver prices persist in trading within a narrow range, hovering around the $29.50 level. This reinforces the anticipated bearish trend scenario on an intraday basis. The initial target remains at $28.90, with further downside potential towards $28.00 upon breaching this level. However, a breakout above $29.80 would invalidate the anticipated decline and signify a potential resumption of the primary bullish trajectory.


Expected Trading Range


The anticipated trading range for silver spans between support at $29.00 and resistance at $29.80.

Trend Forecast: Bearish

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