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Silver price exhibited clear negativity in trading sessions, testing the 23.00 level and settling below it. However, support emerged around the 22.85 level, preventing further losses. The convergence of the EMA50 at this level provided additional support, further reinforced by positive signals from the stochastic indicator.
These factors signal a potential bullish trend for the upcoming period, with the next major target positioned at 23.70. It is important to note that a break below 22.85 would invalidate the positive scenario and potentially trigger a downturn.
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The projected trading range for today is expected to fluctuate between the support level at 22.80 and the resistance level at 23.50.
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Anticipated Trend for Today: Bullish
