I’m anticipating that Silver prices will retest the 33.6 - 33.7 area in the near term. Once this level is reached, I expect a potential reversal and subsequent decline from there.
Key Points to Watch:
Retest Zone: The 33.6 - 33.7 range is critical, and price action within this zone will be key to determining the next move.
Potential Fall: After the retest, a downward move could unfold, presenting potential selling opportunities.
Confirmation: Always look for confirmation signals, such as price rejection or bearish indicators, before considering any trades.
As always, keep an eye on market conditions and trade responsibly!
Key Points to Watch:
Retest Zone: The 33.6 - 33.7 range is critical, and price action within this zone will be key to determining the next move.
Potential Fall: After the retest, a downward move could unfold, presenting potential selling opportunities.
Confirmation: Always look for confirmation signals, such as price rejection or bearish indicators, before considering any trades.
As always, keep an eye on market conditions and trade responsibly!
Trade active
Silver Price Forecast (April 22, 2025): Retest and Potential Reversal at $33.60 Fulfilled – What’s Next?As anticipated, Silver has successfully retested the critical resistance zone near the $33.60 level — a key area we've been monitoring closely. This zone has previously acted as both structural resistance and a psychological barrier, and once again, price action has respected it with precision.
Following this retest, early signs of bearish momentum are beginning to surface, suggesting a potential downward reversal may now be underway. This aligns with our prior forecast, where we highlighted the likelihood of sellers stepping in at this juncture.
Going forward, if this reversal gains traction, immediate support can be expected near the $32.40–$32.00 region, with deeper pullbacks possibly targeting the $30.80–$30.50 zone. However, a confirmed break above $33.60 would invalidate the current bearish setup and could open the door for a continuation towards the $35.00 psychological level.
We’ll continue to monitor volume dynamics and lower timeframe confirmations for stronger conviction. As always, proper risk management and adherence to your trading strategy are key in this environment of heightened volatility.
Note
Silver Price Forecast (April 22, 2025): Retest and Potential Reversal at $33.60 – What’s Next?As anticipated, silver has successfully retested the critical resistance zone near the $33.60 level, aligning with our previous analysis. This area has historically acted as a significant resistance point, and recent price action suggests a potential downward reversal.
Technical Indicators Analysis:
Relative Strength Index (RSI): Currently at 68.88, the RSI indicates that silver is approaching overbought conditions, which could precede a pullback.
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Moving Average Convergence Divergence (MACD): The MACD line is above the signal line, suggesting bullish momentum. However, a crossover below the signal line could indicate a shift towards bearish momentum.
Fibonacci Retracement Levels: The 38.2% retracement level aligns with the $32.40 support zone, while the 50% retracement level is near $31.00, providing potential targets for a pullback.
Market Outlook:
If silver fails to sustain above the $33.60 resistance, we may witness a decline towards the $32.40 support level, with further downside potential targeting the $31.00 area. Conversely, a decisive breakout above $33.60 could invalidate the bearish scenario and pave the way for a move towards $35.00.
Traders should monitor these key levels closely and consider appropriate risk management strategies in light of the current market conditions.
Trade closed: target reached
Silver Price Forecast Update (April 25, 2025): Eyeing Fresh Sell Opportunities Near $34.20Following our earlier forecast on April 22, 2025 — where we highlighted a retest and potential reversal at the $33.60 level, which was successfully fulfilled — we now turn our attention to the next critical price region. As price action unfolds, I will be closely monitoring the $34.20 area for potential short (sell) setups, contingent on price behavior and broader market confirmation.
🔍 Technical Outlook
Resistance Zone at $34.00–$34.20: This area has previously acted as a strong resistance zone, marking a significant swing high from March 2024. A confluence of Fibonacci extensions (specifically the 127.2% extension from the January–March leg) also aligns here.
Bearish Divergence on RSI (4H and Daily): As silver approaches $34.20, momentum indicators are beginning to show early signs of bearish divergence, suggesting that upside strength may be waning.
Rising Channel Breakdown in Sight: Price remains within an ascending channel since mid-March, but a test and failure near $34.20 could trigger a breakdown, targeting support at $32.60 and potentially $31.80 in extension.
🏦 Fundamental Drivers to Watch
Fed Policy Outlook: Recent Fed commentary continues to lean hawkish, with inflation data remaining sticky. The possibility of delayed rate cuts is strengthening the U.S. dollar and raising real yields — both traditionally bearish factors for silver.
Geopolitical Uncertainty & Safe Haven Flows: On the flip side, ongoing geopolitical tensions in Eastern Europe and the Middle East are contributing to periodic safe haven bids for precious metals. However, these flows have largely benefited gold more than silver in recent sessions.
Industrial Demand Concerns: Slowing global manufacturing PMI readings — especially from China and Germany — are raising concerns about silver’s industrial demand side. This could weigh on the metal in the coming weeks if macroeconomic softness persists.
📈 Trade Plan
I will be closely watching for bearish confirmation patterns near the $34.00–$34.20 resistance zone, such as:
Rejection wicks on the 4H/daily timeframe
Bearish engulfing or pin bar formations
Breakdown below local support levels near $33.50
If confirmed, I will consider initiating short positions, with targets around:
First Target: $32.60
Second Target: $31.80
Stop-Loss: Above $34.50 (structure-based)
📝 Conclusion: While silver continues to enjoy broad bullish momentum, technical resistance at $34.20 could serve as a turning point. Combined with shifting macroeconomic narratives, this level offers a high-reward zone to look for potential reversal and short opportunities, provided the right confirmation signals develop.
Stay tuned — I’ll provide further updates as price action evolves.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.