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Core Viewpoint - Silver is experiencing a bullish trend despite short-term fluctuations, supported by structural demand from electrification and photovoltaic sectors, alongside geopolitical tensions and moderate Federal Reserve expectations [3][4]. Market Performance - As of September 25, silver is trading above $43.92, with a current price of $43.96, reflecting a 0.16% increase from the opening price of $43.89 [1]. - The highest price reached today is $44.00, while the lowest is $43.76, indicating a short-term oscillating trend [1]. Federal Reserve Influence - Recent comments from Federal Reserve Chairman Jerome Powell highlight a policy environment with upward inflation risks and downward employment risks, impacting market sentiment [3]. - Following a recent interest rate cut, traders anticipate two more cuts of 25 basis points this year, with probabilities of 93% and 79% for October and December, respectively [3]. Economic Indicators - Traders are focused on the upcoming personal consumption expenditures report, which could influence further rate cuts and impact the dollar and precious metals [4]. - A weak month-over-month data of 0.2% could pressure the dollar and potentially reignite upward momentum for silver and gold [4]. Technical Analysis - Silver prices recently touched a 14-year high of $44.47 before a slight pullback, maintaining an upward trend with bullish short-term moving averages [5]. - The price faces short-term resistance around $44.47, with a potential challenge of the psychological level at $45.00 if broken [5]. - Support is identified near $43.50, which could provide a buying opportunity for bulls if the price stabilizes [5]. - The RSI indicator is approaching 70, indicating strong upward momentum but also necessitating caution for potential pullbacks [5].