Silver prices have recently settled near the 23.70 level, with market observers noting that stochastic indicators have clearly overcome their negative momentum. This development has been supported by the EMA50, which continues to provide positive reinforcement for the price.
As a result, experts believe there is a likelihood of surpassing the 23.70 level, which could pave the way for additional gains reaching up to 24.60. It’s important to remain cautious, however, as a firm stability at 23.70 against these positive attempts may force the price to decline, possibly testing the 23.00 level before any new upward attempts.
For today’s trading, market participants should consider a trading range between support at 23.20 and resistance at 24.00, with a bullish trend expected to be dominant in silver prices.
