Silver poised to hit $65 amid bearish trends by March end
Analysis
Current factors suggest a higher likelihood for silver to hit $65. Recent price action shows a drop to $72/oz, with forecasts predicting further declines. CoinCodex estimates a range between $55 and $66, aligning with bearish models. Technical indicators show pressure below $65.05 could collapse bullish structures. Key drivers: strong USD, recession fears dampen industrial demand, while elevated volatility supports a potential dip to $65. Silver is vulnerable to macroeconomic headwinds, yet the probability is not overwhelming, thus keeping confidence moderate.
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Will Silver (SI) hit (LOW) $65 by end of March?
Market: Will Silver (SI) hit (LOW) $65 by end of March?
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Will Silver (SI) hit (LOW) $65 by end of March?
Market: Will Silver (SI) hit (LOW) $65 by end of March?