Silver Price Requires Positive Catalyst – Forecast for July 5, 2024

by Jennifer

Silver Price Analysis

Current Situation


Silver prices are fluctuating around the $30.50 level, exhibiting weak trading activity since yesterday. Despite this, as long as the price remains above $30.06, the bullish outlook will remain valid and active.


Key Levels

If the price falls below $30.06, it would come under negative pressure, with initial targets around $29.30. Conversely, the expected bullish wave aims for $31.00 initially and could extend to $31.50 after surpassing the $31.00 level.

Expected Trading Range

Today’s anticipated trading range for silver is between the $30.10 support level and the $31.00 resistance level.

Trend Forecast

The trend forecast for silver remains bullish.

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