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Silver Price Shows Positive Movement – Daily Forecast for July 2, 2024

by Daisy

The price of silver concluded yesterday’s trading session on a positive note, breaking through the $29.30 mark and settling above it. This upward momentum indicates potential gains in the near term, with an anticipated target of testing the $30.06 level as the next significant milestone.

The bullish trend for today is supported by the price remaining above the 50-day Exponential Moving Average (EMA50). However, if the price fails to maintain its position above $29.30, it could come under negative pressure once more, potentially leading to an initial decline towards $28.55.

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Expected Trading Range
Support: $29.00
Resistance: $29.90

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