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Silver price continued its upward trajectory in recent sessions, edging closer to our awaited target at 25.50. However, it displayed a slight bearish bias influenced by stochastic negativity. Notably, indicators suggest a reduction in negative momentum as they approach oversold areas, hinting at a potential resurgence in bullish sentiment. The next target for the main bullish trend is projected to reach 26.07.
Consequently, we maintain our bullish outlook for the foreseeable period, emphasizing that maintaining a position above 24.60 is crucial for achieving the awaited targets.
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Today’s expected trading range is anticipated to fluctuate between the support level at 24.80 and the resistance level at 25.50.
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Trend Forecast: Bullish
