The price of silver has been meandering within a sideways range since yesterday while maintaining its stability above the 23.00 level. This positioning keeps the prospects alive for a resumption of the anticipated bullish trend on an intraday basis, with an initial target set at 23.70.
The formation of a positive pattern by breaching the 23.20 level could serve as a motivating factor for the price, propelling it toward the suggested target. However, it’s crucial to bear in mind that a break below 23.00 would halt the bullish momentum and expose the price to potential new losses, with a bearish target situated at 22.25.
For today’s trading activity, the expected range is anticipated to oscillate between support at 22.90 and resistance at 23.60.
In summary, the current outlook leans towards a bullish sentiment, contingent upon the price holding above 23.00, while the breach of 23.20 could further drive the positive momentum.
