During early trading on Tuesday, the silver market experienced a slight retreat, though there appears to be interest from buyers looking to support the market. The key level to monitor is $28.50, which presents significant levels of activity. Breaking above the day’s range may lead to a potential test of the 50-day EMA. Subsequent upward movement could target the $30 level, which is expected to draw considerable interest. Conversely, a drop below the day’s low could signal a downward trend towards the 200-day EMA around the 50% Fibonacci retracement level. The volatile nature of the silver market is further influenced by factors such as the US dollar’s performance and industrial demand. Monitoring silver closely is advisable, as a breach below $28 could result in a rapid 50-cent decline. Conversely, reclaiming $28.50 might indicate a bullish momentum shift. Stay updated on economic events with our economic calendar for today.