The price of silver has successfully reached the anticipated target at 23.70. Today, we observe a significant decline as the price tests the key support level at 23.00. However, it is important to note that silver has managed to hold above this level, which keeps the possibilities open for the expected bullish trend on an intraday and short-term basis. Further reinforcing the bullish outlook, breaching the 23.70 level would likely propel the price towards the next main target at 24.60.
For the bullish scenario to remain in play, it is essential for the price to maintain stability above the 23.00 support level.
The expected trading range for today is between 22.90 on the downside and 23.70 on the upside. As things stand, the prevailing trend for today appears to be bullish.
