Silver prices recently tested the 23.00 level and subsequently rebounded in a bullish fashion, setting the stage for a potential continuation of the anticipated intraday bullish trend. It’s essential to keep in mind that our next bullish target lies at 23.70.
It’s worth noting that there might be some temporary sideways fluctuations in the price due to the current negative readings on the stochastic indicator. Nevertheless, the overall expectation is for the bullish momentum to resume. However, traders should exercise caution, as a breach of the 23.00 support level could halt the positive scenario and lead to a decline in price.
For today, the projected trading range extends from the support level at 22.90 to the resistance level at 23.70.
In summary, silver prices are making a positive attempt, with the next bullish target set at 23.70. Traders should remain vigilant and monitor price movements, particularly in relation to the specified support and resistance levels, to inform their trading decisions.
