Price Prediction for Silver – Silver Pauses During Wednesday Trading
The silver market has reached the historically significant $25 threshold, which has been attained multiple times in the past.
The silver market has reached the historically significant $25 threshold, which has been attained multiple times in the past.
The price of silver has declined significantly over the course of the week, but it did rise slightly on Friday.
Due to the continued presence of erratic price action, silver has retreated slightly during the trading period on Monday.
Although falling heavily over the week, silver rebounded on Friday from the 50% Fibonacci retracement level.
During Wednesday’s trading session, the $22.50 level has provided support for the silver price.
The 200-day exponential moving average (EMA) has been maintained by silver throughout Wednesday’s trading session.
The silver market has declined during Thursday’s trading session to test the 200-day exponential moving average. In this manner, the market appears to be questioning the trend.
The silver market has rebounded this week from the important $18 level, which continues to provide considerable support.
Tuesday’s trading session witnessed a modest rise in silver prices despite the persistence of erratic market activity. Ultimately, I believe this market is trying to determine whether or not $18 is the bottom.
The silver market opened Wednesday’s trading session with a gap to the downside and is currently trading slightly over the $19 level.