In recent trading sessions, silver prices exhibited positive momentum, advancing towards the awaited target of 24.60. Analysts anticipate a continuation of this bullish trend, surpassing the mentioned level and striving for additional gains, with a near-term target set at 25.50. The upward trajectory is notably supported by the EMA50, providing further momentum to the current market sentiment.
It is crucial to underscore that any breach below the level of 23.70, coupled with sustained trading beneath it, has the potential to halt the anticipated upward movement, prompting a shift in market dynamics towards a decline.
Offering insights for traders, the projected trading range for today oscillates between the support level of 23.00 and the resistance level of 24.80.
Today’s market trend is expected to maintain its bullish bias, reflecting the prevailing positive sentiment and suggesting a potential surge beyond the current levels. However, market participants are advised to closely monitor the critical support level of 23.70 for any potential shifts in the established trend.
