Silver price forecast update 15-05-2024

Economies.com
2024-05-15 09:29AM UTC

Silver Price Analysis

Expected Scenario

  • Silver price continues to rise to achieve our first waited target at 28.90$, and we believe that the way is open to continue the rise and achieve additional gains that reach 29.80$, to continue suggesting the bullish trend on the intraday and short-term basis, noting that the price needs to build support base above 28.70$ to guarantee the continuation of the bullish wave, as breaking this level might push the price to test the most important support at 28.00$ before any new attempt to rise.

Expected Trading Range

Between 28.50$ support and 29.20$ resistance.

Trend Forecast: Bullish

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