The price of silver has approached the 24.60 level and is currently demonstrating positive trading activity, indicating a potential resumption of the expected bullish trend on an intraday basis. Notably, the stochastic indicator is gaining positive momentum on the four-hour time frame, further bolstering the likelihood of attaining gains in the forthcoming sessions. It is reiterated that the next target for this upward movement is set at 25.50.
The bullish sentiment is reinforced by the support provided by the EMA50, which continues to underpin the suggested bullish wave. This bullish outlook remains intact unless the price breaches the 24.60 level and sustains a daily close below it.
Today’s anticipated trading range is expected to fluctuate between the support level at 24.60 and the resistance level at 25.30.
Trend Forecast: Bullish
