Silver Analysis – March 19, 2025#Silver Analysis – March 19, 2025 ✨📈
Silver continues to attempt staying close to the upper line of the ascending channel for another retest in yesterday's trading but failed to break the resistance point intersecting with the upper line of the channel. Will silver break higher, or is a correction approaching? 🤔
🔹 Bullish Scenario:
✅ Holding above 34.25 on a daily close will trigger a strong upward move towards 34.90, the highest level reached in several years! 🚀
✅ If it breaks above 34.90, silver could extend towards 35.50 and 36.20.
✅ Silver is still close to the upper channel line, supporting the continuation of the bullish trend.
🔹 Corrective Scenario:
❌ Any corrective pullback must stay above 31.65, or breaking below this level and closing below it will make it difficult to return to higher prices! 📉
❌ The Relative Strength Index (RSI) suggests that the upward movement is nearing its end—are we due for a correction soon? 😯
❌ If 31.65 is broken, silver could fall towards 30.80 and 29.95.
🔍 Conclusion:
🔹 Holding above 34.25: Supports further upward movement towards 34.90 and possibly higher! 📊
🔹 Breaking below 31.65: Could trigger a downward correction towards 30.80 and 29.95.
🔹 Will we see a breakout to the upside or is a correction imminent? 🤨📌
📢 What do you think? Will silver break 34.90 soon, or is a correction on the way? 👀🚀
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