On May 24, Beijing time, at the beginning of European style trading, silver The market experienced a moderate rebound after two consecutive trading days of sharp decline. At present, the silver price hovers around 30.35 US dollars/ounce, and market participants show great interest in this round of fluctuations. This article will deeply analyze the latest developments of the silver market, explore the logic behind it, and predict the future trend.
Technical analysis: the future trend of silver price
After the spot silver fell sharply for two consecutive days, the market showed a slight bullish trend. Analysts from overseas institutions pointed out that although the silver price found solid support at $30.06/ounce, there was still a risk of falling below this level in the future. The next short target was $29.30/ounce.
Technical analysis shows that the condition for silver to continue to be bearish is that the silver price remains below 30.45 dollars/ounce, and the most important is that it remains below 31.00 dollars/ounce. If the silver price breaks through 31.00 dollars/ounce, this may indicate the recovery of silver price trend and return to the main bullish trend.
Analysts' opinions of well-known institutions
Analysts are bearish on the expected trend of silver price. They pointed out that the rebound of silver price may be short-lived, and the market needs more positive signals to confirm the change of trend. At the same time, analysts also remind investors that any market situation that breaks through $31.00/ounce deserves close attention, because it may be a signal of the change of market sentiment.
Market forecast: support level and resistance level of silver price
According to market analysis, today's silver price is expected to trade between the support level of $29.70/ounce and the resistance level of $30.60/ounce. This forecast provides a reference range for investors to evaluate market dynamics and make corresponding investment decisions.
After the silver market experienced severe fluctuations, investors need to be more cautious in assessing the market situation. Although silver prices show signs of rebound in the short term, the long-term trend is still unclear. Investors should pay close attention to market dynamics, especially the performance of silver price at key support and resistance levels, as well as any macroeconomic events that may affect market sentiment.
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