March 2, 2026 Spot Silver Evening Analysis

Asian session silver initially surged then retraced, falling back from highs to fluctuate around the 92-93 range. The bulls took profits and exited, causing a slight pullback and consolidation; European session saw a slow upward trend, gradually regaining ground, returning near the 94-95 range, overall showing a strong oscillation.

The core news points are twofold: first, Middle East geopolitical tensions continue to support precious metals as a safe haven; second, the Fed's rate cut expectations remain, the US dollar is relatively weak, and stable industrial demand for silver coupled with low inventories provide a floor for silver prices. No major data releases tonight, mainly watching market sentiment and geopolitical developments, so volatility is expected to be significant.

The daily bullish trend remains intact, with strong support around 90; in the short term, after a significant rally earlier, the market is in a correction phase. Key levels tonight are clear: resistance at 95-96, with a breakout potentially pushing toward 98-100; support at 91-93, holding this range ensures the bullish outlook remains intact.

Evening trading strategy: avoid chasing highs, focus on range-bound oscillations. Wait for a stable pullback to the 92-94 range before entering long positions. Target near 96-99, remember to set stop-loss orders. The overall trend tonight is upward, but short-term volatility is increasing. Entering after stabilization is safer; avoid blindly chasing trades.

This is only personal advice for reference, not investment guidance. Please follow Cheng Jingsheng's layout for specific strategies! $XAG ‌#XAG