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Silver Price Holds Firm Above Support, Eyes Upside Targets – Daily Forecast (03-07-2024)

by Daisy

Silver prices have maintained above the crucial $29.30 support level, consolidating with robust gains observed during yesterday’s evening session. The bullish momentum is expected to persist into today’s trading, with initial targets set at $30.06.

Traders are advised to anticipate further upward movement, potentially reaching $31.00 upon breaching current resistance levels. Conversely, a drop below $29.30 could signal a bearish reversal, with initial downside targets near $28.55.

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Projected Trading Range

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Today’s anticipated trading range spans from $29.25 as support to $30.10 as resistance. Investors should monitor price action around these levels for potential breakout opportunities.

By adhering to these technical cues, market participants can better navigate today’s silver market dynamics.

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