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Silver Price Forecast Update – 09-07-2024

by Jennifer

Silver Price Analysis

Expected Scenario

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Silver price is currently attempting to breach the $31.00 level, which reinforces expectations for a continuation of the bullish trend in the upcoming sessions. The next target anticipated is around $31.50. Stochastic indicators are providing positive signals, which are expected to encourage further price momentum to confirm the breach and achieve the awaited targets. The EMA50 indicator supports this bullish outlook, contingent upon price consolidation above the $31.00 level to ensure the continuation of the expected upward movement.

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Expected Trading Range

  • Support: $30.60
  • Resistance: $31.50

Trend Forecast: Bullish

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