Our pivot point stands at 22.15.

Our preference: the upside prevails as long as 22.15 is support.

Alternative scenario: below 22.15, expect 21.70 and 21.45.

Comment: the RSI is trading above 70. This could mean that either prices are in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Silver is above its 20 and 50 period moving average (respectively at 22.17 and 21.96).

Supports and resistances:

23.80 **

23.50 *

23.25 **

22.49 last

22.15 **

21.70 *

21.45 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 03-17-2023 at 20:35 UTC+1

Price reference: 22.49 last known on 03-17-2023 at 20:35 UTC+1

Investment horizon: INTRADAY

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