Silver Price Forecast Update – June 6, 2024

by Jennifer

Current Scenario:

The silver price is currently influenced by stochastic negativity, leading to a slight bearish bias. Additionally, the EMA50 is acting as resistance against the price movement. However, there is anticipation for positive momentum that could help propel the price to resume the expected bullish trend for today, with the next target set at $31.00. It’s crucial to note that the continuation of the bullish wave hinges on the price remaining stable above $30.06.

Expected Trading Range:

The anticipated trading range for silver is between a support level of $30.20 and a resistance level of $31.00.


Trend Forecast:

The overall trend forecast for silver remains bullish.


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