Silver prices soared 2.5% during Wednesday’s trading, heading for a third consecutive session of gains. The white metal is currently poised to regain its upward trend in the near term.

Scenario 1:

Silver is currently trading near the first resistance level at $74.61. If it manages to break through then hold above, it could boost positive momentum and push prices toward testing the next resistance level at $76.80.

Scenario 2:

If silver prices fall below the daily pivot point at $71.00, this could pave the way for further selling pressure, driving prices to continue their downward correction toward support levels at $68.49 then $66.22.

Top News:

Markets are paying close attention to today’s Federal Reserve speeches, with investors eagerly awaiting any clues on interest rate policy, given the immediate and notable impact such signals can have on silver prices.