Silver price tests the support base - Forecast today - 02-04-2024

Economies.com
2024-04-02 01:41AM UTC

Silver Price Analysis

Silver price tested the key support formed at 24.85$ after breaching it previously and bounced bullishly from there. This keeps the bullish trend scenario valid and active, supported by the EMA50 that carries the price from below. It is worth noting that stochastic approaches to overlap positively to motivate the price to provide more positive trades.

Our waited targets begin at 25.50$ and extend to 26.07$, noting that it is important to hold above 24.85$ to continue the expected rise.

Trading Range Forecast

The expected trading range for today is between 24.85$ support and 25.60$ resistance.

Trend forecast: Bullish

Commodities News

Gold News

Commodities

Gold surpasses $2400 for first time ever
2024-04-16 20:03PM UTC
Gold prices rallied on Tuesday and scaled fresh record highs on strong haven demand, as global ...
Oil News

Commodities

Oil prices hover near two-week lows as markets expect little response from Israel to Iran's attacks
2024-04-16 13:17PM UTC
Global oil prices fell in American trade on Tuesday, approaching two-week lows as the US now ...
Gold News

Commodities

Will gold prices scale $3000 an ounce in 2024?
2024-04-16 11:59AM UTC
Gold prices continued to move in a positive zone and approached the record highs scaled last week ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 16-04-2024
2024-04-16 09:52AM UTC
Brent Oil Price Forecast Brent oil price finds solid resistance at 90.90$, to show negative ...
Oil Analysis

Commodities

Crude oil price forecast update 16-04-2024
2024-04-16 09:48AM UTC
Crude Oil Price Forecast Crude oil price trades negatively to press on 85.45$ support line, ...
Silver Analysis

Commodities

Silver price forecast update 16-04-2024
2024-04-16 09:48AM UTC
Silver Price Forecast Silver price faces clear negative pressure now, to approach the key ...