SILVER supported by 50 DMA The Week Ahead 03rd March ’25Silver (XAG/USD) maintains a bullish outlook, supported by the long-term uptrend, characterized by a sequence of higher highs and higher lows. The recent pullback appears to be a corrective move, currently testing a rising trendline support zone, which remains crucial for trend continuation.
Key Technical Levels
Immediate Support: $30.80 (previous consolidation range and trendline support)
Major Support Levels:
$30.60
$30.20
$30.00
Immediate Resistance: $31.25 (short-term breakout level)
Major Resistance Levels:
$31.59
$31.86
$32.00
Bullish Scenario: Breakout Above $31.25
A successful breakout above $31.25, supported by strong momentum, would reaffirm the bullish trend.
This would open the way for an upside move toward the $31.59 resistance, followed by extended gains toward $31.86 and $32.00 over the longer timeframe.
The continuation of higher lows and higher highs would further strengthen the bullish structure.
Bearish Alternative: Breakdown Below $30.80
A confirmed breakdown below $30.80 and a daily close beneath this level would invalidate the bullish outlook.
This could trigger a deeper retracement toward $30.60, with further downside risk extending toward $30.20 and $30.00 if selling pressure intensifies.
A breakdown below $30.00 would shift the market structure into a potential bearish reversal.
Conclusion
Silver (XAG/USD) remains bullish in the broader trend as long as $30.80 holds as support. A breakout above $31.25 would signal trend continuation, targeting higher resistance levels. However, a breakdown below $30.80 would suggest deeper retracement, potentially shifting sentiment to the downside. Traders should monitor these key levels for confirmation of the next move
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