On the last trading day of the week, after the Manufacturing and Services PMI figure was announced above expectations in the United States, the upward momentum on the indices side accelerated, with New Home Sales in the United States rising 20.7% in March, exceeding expectations. U.S. markets failed to live up to expectations in the new week, with March durable goods orders up 0.5%. Thus, the continued weak dollar in the markets reduced the pressure on safe havens. Meanwhile, US President Joe Biden's announcement that he plans to raise taxes on the rich has accelerated the upward momentum on the silver prices side. After this bill, which would increase taxes on capital gains from 20% to 39.6% for those earning more than $1 million, we found that risk appetite in the markets weakened slightly. But U.S. 10-year bond yields rose to 1.64% after Consumer Confidence Index data came in well above expectations yesterday. Thus, while there was a primal movement on the dollar assets side, today the markets turned their eyes to the FOMC meeting. Thus, it can be said that the pullback in silver prices has weakened some general trend direction.  

Ounce Silver:

If the ounce of silver in the rising channel formation closes below 26.0, it is possible that it will disrupt this formation and accelerate its declines. We follow the support levels of 25.50 and 25.0 in the appearance that may occur below this level. However, if the precious metal remains above 26.0 in its technical appearance and carries its rise above 26.50, the purchasing potential may be accelerated within the framework of resistance levels of 27.0 and 27.50.