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The price of silver concluded last Friday on a positive note, breaking through the 23.00 level and maintaining its position above it. Notably, the price has successfully formed a bullish flag pattern, indicating the potential for a new bullish wave. Initial expectations point towards testing the 23.70 level.
As such, the bias for today leans towards a bullish outlook. Breaking the aforementioned target could extend the bullish wave towards the 24.60 areas. It’s important to note that the anticipated upward movement remains valid unless the price breaks below 23.00 and holds below this level once more.
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The expected trading range for today is between support at 22.90 and resistance at 23.60.
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The prevailing trend for today is bullish.
