Silver Price Continues Rally – Forecast for May 29, 2024

by Jennifer

Expected Scenario

Silver price exhibited a notable uptrend yesterday, reaching the $32.00 barrier, thus bolstering expectations for a sustained bullish trend in the near term. Further upward movement is anticipated to achieve our optimistic targets, commencing at $32.50 and extending to $33.25.


The EMA50 continues to provide underlying support from below, further reinforcing the positive outlook. This favorable sentiment is contingent upon the price maintaining stability above the $31.00 level.


Expected Trading Range

The anticipated trading range spans between the support level of $31.70 and the resistance level of $32.60.

Trend Forecast: Bullish

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