Silver movements during the coming period

Silver at the basic level

Silver prices stabilized during the last trading period supported by the weakening of the dollar, as silver prices are now trading around 36 dollars per ounce, largely stable for the third session in a row, supported by the weakening of the dollar amid increasing trade and financial uncertainty in the United States.

The moves came as Fed Chairman Jerome Powell stressed on Tuesday that the central bank was still being patient towards further rate cuts, but did not rule out easing them at this month's meeting.

He also noted that the Fed would have already cut interest rates had it not been for the inflationary effects of President Donald Trump's tariffs.

Markets are now focusing on upcoming labor market data, including the ADP private sector jobs report scheduled for release on Wednesday, as well as the important government jobs report NFP, which will be released tomorrow, Thursday, for additional signals on the economic outlook and possible Fed policy moves.

Silver at the technical level

Silver prices are trading inside an ascending price channel on the daily frame, this week they almost reached the lower limit of this channel with silver reaching the levels of 35.45 dollars.

It is possible to wait for the lower limit to be reached again to enter buying, as the levels of 35.45 to 34.60 are considered good support levels for buying silver with the aim of completing the harmonic Butterfly Model near the levels of 38.50 dollars.

This scenario fails if the USD 34.30 levels are broken down by at least one daily candle.