Forecasts of silver movement in the near term

Silver at the basic level

Silver rose on Wednesday by 1% to 33 dollars per ounce on Wednesday, offsetting the losses of the previous session, despite the easing of trade tensions between the United States and China, and the precious metal retreated from record levels amid declining demand for safe haven assets.

At the technical level

Silver has been fluctuating for more than a week between the levels of USD 32.10 down and USD 33.15 up, as it is trading inside this range and we are waiting for the exit from this range to enter with the trend.

If the 33.15 levels break upwards, we will wait for targets near 34.10/20 USD.

As for if the 32.10 levels break down, our next targets will be near the levels of 31.30 and then 30.60 dollars.