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At the beginning of the new week, silver continues its recent established upward trend, rising to a new record high of $69.45. The technical picture strongly favors the bulls, suggesting the path of least resistance for the white metal remains upward.
The breakout of the horizontal resistance at $67.40 last week, along with Monday's breakthrough of the round level at $68.00, amidst multiple price bounces off the 100-hour simple moving average (SMA) over the past two weeks, serves as a renewed trigger for bulls. The subsequent consolidation above the round level of $68.00 has confirmed the positive outlook, leading silver to establish a new historical high around $69.45. The 100-hour SMA has an upward slope, confirming the continued optimistic forecast.
The primary support level is at the round number of $68.00. Additionally, it is worth noting that the daily RSI (Relative Strength Index), currently in the overbought zone, suggests that a correction may precede further price increases for the white metal.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
