The Silver market is about to reopen in the next two hours, following last week’s close at $85.5. Price action showed strong bullish momentum, moving along a rising trendline and signaling optimism among traders.
If Silver opens with a bullish kicker and breaks above the $85 resistance zone, it may gradually move toward $90, which is an important level for further upward movement. Clearing this area could allow Silver to climb even higher toward $100 and $103, continuing the bullish momentum observed in recent sessions.
The MACD indicator remains positive, supporting the view of healthy upward momentum and suggesting that buyers are in control.
However, there is a downside risk. If Silver fails to break and hold above $85, it is likely to stay in a consolidation range between $75 and $85 until a clear directional move develops. Traders should watch these levels closely as they plan their strategies.
Overall, Silver is at a critical point where a successful break above $85 could lead to significant upward movement, while failure to breach this zone may keep the market range-bound.
Not Financial Advice
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