FX.co - Analysis of Silver for March 31,.2023 - Tight sideways range breakout

2023-03-31T05:56:58

Relevance until2023-04-01

Technical analysis:

Analysis of Silver for March 31,.2023 - Tight sideways range breakout

Silver has been trading sideways in the last 10 hours and I see potential for the downside breakout and downside correction to start.

Due to the breakout of the mini consolidation to the downside, I see potential for the further downside movement.

Downside objectives are set at 23.70 and 23.40

MACD is showing bearish divergence, which is good sign for the further downside movement.

Key Intraday resistance is set a the price of 23.90

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Silver for March 31,.2023 - Tight sideways range breakout