The silver price embarked on a robust surge in the preceding session, firmly actualizing the envisioned ascendancy depicted by the completion of the ascending triangle pattern. This triumphant development facilitated the achievement of our anticipated target at 24.60. Significantly, the price not only reached but also surpassed this critical juncture, culminating in the daily candlestick’s closure above it. This strategic positioning sets the stage for the prospect of accruing additional gains in forthcoming trading sessions. Forecasts spotlight subsequent targets at 25.00 and 25.50.
The constructive influence exerted by the EMA50, originating from beneath the price, fortifies the prospects of a sustained bullish trajectory. It’s important to consider that the breach of the 24.60 level might catalyze a brief period of negative trading, warranting an examination of the 24.35 to 24.20 range before the initiation of any fresh ascent.
Today’s anticipated trading range spans between the support at 24.35 and the resistance at 25.00.
The projected trend for today remains favorably bullish.
