Silver prices concluded the previous session with evident positivity, confirming the breach of the 23.00 level and completing the formation of an inverted head and shoulders pattern on the chart. This development strengthens the outlook for the continuation of the bullish trend in the upcoming sessions, with the next target set at 23.70.
The ongoing support from the EMA50 further bolsters the anticipated bullish wave. It’s worth noting that stochastic negativity might lead to some temporary sideways fluctuations. Breaking the levels of 23.00 and 22.85 will act as a halt to the anticipated rise, potentially triggering a reversal to the downside.
The expected trading range for today is projected to fluctuate between the support at 22.90 and resistance at 23.60.
