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Silver prices have demonstrated a notable upward rally in recent sessions, successfully breaching the 23.00 level and closing above it. This development suggests the potential for anticipated gains in the upcoming sessions, with the primary target set at 23.70.
The presence of the EMA50 above the price supports the likelihood of achieving the expected upward movement. However, it’s essential to bear in mind that breaking below 23.00 and holding below it once again could reactivate the bearish scenario, with the next key target at 22.25.
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The projected trading range for the day is expected to vary between support at 22.85 and resistance at 23.70.
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Today’s expected trend: Bullish
