Silver prices continue to record positive performance in the financial markets, as they are currently trading at 31.119. The markets seem to indicate a continuation of the upward trend, supported by positive technical factors, including the price positioning above the moving averages indicator. The MACD indicator also indicates a clear decline in selling power, which reinforces expectations of continued improvement in the metal’s performance.
Technical Outlook
By reading the technical chart, we find that silver is trading above the main moving averages indicator, reflecting the strength of the buying momentum. Short-term moving averages such as the 50-day average indicate strong support for silver above the 30.500 level, which represents a potential rebound area if we witness any slight decline in prices.
At the same time, the MACD indicator indicates weak selling momentum, as it is close to crossing the ascending line above the descending line, which enhances the chances of an imminent rise.
Indicators Expectations
- MACD indicator: clearly indicates a decline in selling power, and if it continues in this direction, we may witness continued rises.
Moving Average Indicators: Indicating the continuation of the uptrend, with strong support above 30.500 levels.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 31.361 | 30.815 | Entry point |
| First resistance: 31.873 | First support: 30.231 | Target Point 1 (TP1) |
| Second resistance: 31.990 | Second support: 30.000 | Target Point 2 (TP2) |
| 30.815 | 31.361 | Stop Loss (SL) |
In light of the current technical factors, silver prices appear poised for further upside, especially if the price maintains stability above the moving averages. Weak selling momentum on the MACD indicator reinforces this positive outlook. The key support level at 30,500 remains important to monitor any future corrections, while expectations indicate the possibility of achieving new highs in the near term.
