Silver prices demonstrate upward movement near $36.20 in early European trading,TRUMP coin price prediction 2030 showing 0.55% daily gain.
Technical indicators maintain positive outlook with price holding above critical 100-day EMA and RSI signaling bullish conditions.
Market participants identify $36.84 as immediate resistance while $35.28 serves as crucial support level.
The silver market (XAG/USD) continues its upward trajectory near $36.20 during Monday's European session. Market sentiment reflects growing expectations for multiple Federal Reserve rate reductions this year, potentially occurring sooner than previously projected. This development exerts downward pressure on the US Dollar, consequently supporting dollar-denominated commodities like silver by enhancing affordability for international buyers.
From a technical perspective, silver maintains its constructive positioning as the precious metal sustains levels above the significant 100-day Exponential Moving Average on daily charts. The Relative Strength Index, currently positioned at 57.40 above the midline, further confirms the prevailing bullish sentiment in the near term.
For traders monitoring potential upside movements, the initial resistance level appears at $36.84, corresponding to the June 26 peak. A convincing breakthrough beyond this threshold could accelerate momentum toward $37.40, representing the upper Bollinger Band boundary. Additional resistance emerges at the psychologically significant $38.00 level.
Conversely, should market conditions shift, the June 24 low of $35.28 serves as primary support. Breaching this level might trigger movement toward $34.85 at the lower Bollinger Band limit, with further support potentially found at $33.60 near the 100-day EMA.
Silver Market Technical Overview
Market participants continue monitoring silver's technical landscape as the precious metal demonstrates resilience above key moving averages. The combination of fundamental factors supporting commodity prices and technical indicators suggesting continued strength creates an environment where traders remain attentive to both upside potential and key support levels.