Silver price has successfully attained our anticipated target of $25.50 and commences today’s trading session with further upward momentum, surpassing this level to solidify the continued dominance of the bullish trend. This advancement opens pathways towards our subsequent target at $26.07.
Consequently, we maintain our bullish trend projection for the forthcoming period. A breach of the aforementioned level would likely propel the price to achieve additional gains, potentially reaching $26.90. However, failure to consolidate above $25.50 may subject the price to negative pressure, prompting a retreat towards the key support base at $24.60 before any renewed upward attempts.
Today’s expected trading range spans between the support level at $25.50 and the resistance level at $26.30.
Trend Forecast: Bullish
The forecast remains optimistic for the silver market, indicating potential opportunities for investors and traders to capitalize on continued upward movements. Vigilance regarding key support and resistance levels is essential for informed decision-making amidst evolving market dynamics.
