After reviewing the movements of the on different time chart patterns, I observed that the weekly closing on March 20, 2026, was below the key support levels, as I explained in on March 20, 2026.
President Donald Trump said the United States is “getting very close” to ending its military campaign against Iran, even as fresh strikes and retaliatory attacks underscore continued tensions in the region.
In a statement posted to Truth Social, the President indicated that the offensive has successfully achieved its primary goals of degrading Tehran’s missile capabilities and destroying its defence industrial base.
The announcement triggered an immediate reaction in precious metals, as the gold and silver futures, which were trading in positive territory, experienced a selling spree as investors began to price in a potential de-escalation of the regional “war premium.”
However, Iran’s Natanz nuclear facility was struck in an air raid on Saturday morning, marking the second time the key enrichment site has been targeted since the outbreak of the war, according to state broadcaster IRIB. Iranian officials said no radioactive leakage was detected, and nearby residents were not at risk.
In a separate development, Israel said an Iranian missile struck Dimona, a southern town home to its nuclear facility, wounding dozens.
Iran launched two intermediate-range ballistic missiles at the joint U.S.-U.K. military base on Diego Garcia, according to the semi-official Mehr news agency. While the missiles reportedly failed to strike the Indian Ocean facility, the operation signals a significant expansion of Iran’s regional reach.
Tehran characterized the launch as a demonstration of missile capabilities that exceed prior Western intelligence estimates. The strike highlights a worsening security climate for Indian Ocean trade routes, potentially adding fresh volatility to global energy transit and maritime insurance premiums.
Trump’s roadmap for a military exit hinge on the total “eradication” of the Iranian threat across several domains, specifically the complete elimination of Iran’s naval and air forces, including all anti-aircraft weaponry. The President emphasized that the U.S. must remain in a permanent position to “quickly and powerfully react” to any future nuclear ambitions, ensuring Tehran never nears enrichment capability.
Undoubtedly, the long-term outlook remains dictated by the duration of hostilities. As the U.S. military engagement continues, the White House appears increasingly willing to sacrifice “sanctions purity” in exchange for a ceiling on energy-driven inflation.
Upon corelated the movements of the silver futures since the beginning of this month, I find that silver futures, after testing the second record peak at $97.500 on March 2, 2026, tested a low at $78.147 next day, despite finding some reversal, could hardly sustain below the immediate support at $89.855 on March, 10, followed a sliding path, and breached the significant support at the 50 EMA ($79.661) on March 17, 2026.
Undoubtedly, this fall below this significant support accelerated this slide, and finally, silver futures pierced the next significant support at the 100 EMA ($71.512) on March 19, resulting in elevated bearish pressure, which kept the futures to close last week below this significant support in a daily chart.
