Core Viewpoint - Silver prices are currently consolidating, with a critical support level at the 10-day moving average of $51.28, which is essential for maintaining the bullish structure that began from the low of $36.96 in August [1][3]. Price Movements - Silver traded within the range of $51.28 to $52.78 on Monday, closely aligned with the 10-day moving average as a short-term support level [1]. - A record high of $54.49 was reached last week, but a bearish engulfing pattern has led to a pause in the upward momentum [1]. - A decisive break below $51.28 would signal weakness, while a drop below the previous low of $50.62 could pave the way for further declines [1][2]. Support and Resistance Levels - The 10-day moving average is crucial for the current upward trend, with the recent low confirming its importance [1]. - The 20-day moving average is at $48.77, which remains upward and has crossed above the upper boundary of the short-term rising channel, making it a logical next support level [1]. - Key resistance is identified at $54.49, and maintaining a close above $52.78 is necessary to keep the bullish outlook intact [2][3]. Market Sentiment - The market is showing signs of weakening bullish momentum after five weeks of closing in the upper third of the range, with last week's close in the lower half indicating a potential shift in sentiment [1]. - The Relative Strength Index (RSI) has dropped below 70 after a month of being overbought, further supporting the notion of cooling market conditions [1]. - Any rebound in prices will face resistance, and the market sentiment may shift if key resistance levels are not breached [2][3].
上海华通铂银:白银价格预测——突破后盘整,趋势仍然坚定看涨
Sou Hu Cai Jing·2025-10-21 09:31