Silver Price Forecast: XAG/USD bulls retain control near $82.00, above 23.6% Fibo. level

💡 DMK Insight

Silver’s bounce from $64.00 is more than just a recovery; it signals potential bullish momentum. Traders should note that this level was a significant support zone, and the recent uptick could attract more buyers, especially if it holds above this threshold. If silver can maintain its position above $64.00, we might see a test of resistance around $68.00 in the coming weeks. This could also have ripple effects on related assets like gold, which often moves in tandem with silver. Keep an eye on the broader economic indicators, particularly inflation data and interest rate decisions, as they could influence precious metals’ performance. On the flip side, if silver fails to sustain above $64.00, it could trigger a wave of selling, pushing prices back down. So, watch for any signs of weakness, especially if it dips below this level again, as that could signal a bearish reversal.