SILVER Hello colleagues. This week, silver has demonstrated an impressive growth, exceeding 12%. This became possible due to a combination of reasons, such as weakening inflation expectations caused by reduced tensions between the US and Iran, which in turn lowered pressure on oil prices and interest rate expectations. Additional stimuli included expectations of a more dovish Fed monetary policy, strong industrial demand, and a technical factor of oversold conditions that triggered the closing of short positions and accelerated the upward movement. This week, silver has completed a full cycle of upward marginal movement. For the continuation of the uptrend, a confident price consolidation above the level of 80.76 is necessary. In case of a decline and consolidation below 77.30, selling with a target of 72.85 will become a priority. An alternative scenario suggests a false breakout of the 77.30 level followed by a resumption of the uptrend.
