See also
04.03.2025 12:55 PM
Silver remains in demand for the second consecutive day, showing resilience from a technical standpoint after holding above the 100-day exponential moving average (EMA) last Friday. The subsequent upward movement confirms the potential for further gains, especially as oscillators on the daily chart are beginning to gain positive momentum.
At the time of writing, silver is facing resistance at $31.85, near the psychological $32.00 level. A breakout above this level could trigger a short-covering rally, lifting XAG/USD toward the $32.40–$32.45 range. If bullish momentum persists, buyers may attempt to push the price past the $33.00 psychological level and test February's high around $33.40.
On the other hand, today's low near $31.46 serves as immediate support before the $31.25 region, where the 100-day simple moving average (SMA) aligns with the psychological $31.00 mark, coinciding with the 100-day EMA, which acts as a key support level. A decisive break below this area could serve as a bearish trigger, making XAG/USD vulnerable to an accelerated decline toward the 200-day SMA, followed by the $30.25 support zone. If selling pressure persists, silver could drop to the $30.00 psychological level and potentially lower.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
