Silver likely to rise from support zone

03 March 2021

Silver has been trading in a higher top higher bottom formation suggesting the trend to be positive in the medium term; higher timeframe charts confirm our bullish view on silver. Further it stands at the 50% retracement level of the rise experienced from 30th November 2020 to 1st February 2021 indicating support below current levels. It would be prudent to say that Silver could rise towards $27.25 and $28.00 while it sustains above $25.75.

Prepared by
Technical Analysis Team

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