Silver price forecast update 25-03-2024

Silver price keeps its stability above 24.60$ level, which supports the continuation of the expected bullish trend for today, waiting to visit 25.50$ as a first main target.

The technical indicators and the outlook

• Stochastic negativity might cause some sideways fluctuation, waiting to surpass the resistance line formed by the EMA50 at 24.80$ to reinforce the positive overview.

The expected scenarios

• The expected trend for today is bullish, and breaching 25.50$ will push the price towards 26.07$ as a next main target.

• On the other hand, breaking 24.60$ will stop the bullish track to put the price under new negative pressure that targets 23.70$ areas on the near-term basis.

Expected trading range and price overview

The expected trading range for today is between 24.40$ support and 25.10$ resistance.

Trend forecast: Bullish