Silver prices are displaying new positive momentum, supported by the EMA50, with expectations of resuming the bullish wave targeting $27.50 followed by $28.00 levels. Positive signals from the Stochastic indicator further reinforce the prospect of continued upward movement.
The current positive trades in silver prices are attributed to its reliance on the EMA50, signaling a potential resurgence of the anticipated bullish trend in the intraday period, with targets set at $27.50 and $28.00 levels as key resistance points.
Stochastic indicators are currently providing positive signals, indicating the likelihood of further positive movements in upcoming trading sessions. It’s worth noting that the sustainability of the bullish momentum hinges on price stability above $26.90.
Expected Trading Range:
Support: $27.00
Resistance: $27.80