Silver prices have made a decisive move by breaking above the 21.35 level, a development that culminated in last Friday’s closing above this critical threshold. The current session has witnessed further upward momentum, with the price gravitating towards testing the 22.25 level. This ongoing bullish trajectory suggests the potential for additional gains in the forthcoming trading sessions.
It is important to note that the stochastic indicator currently exhibits a degree of negativity, which could result in temporary sideways fluctuations before the anticipated resumption of the bullish bias. In the event that the price surpasses the suggested target, the next objectives are positioned around the 23.00 level. However, it is imperative to remain cautious, as a breach of the 21.35 level could halt the positive scenario and prompt a return to a bearish outlook.
The expected trading range for the day is anticipated to span between the support level at 21.50 and the resistance level at 22.25.
Today’s expected trend leans towards a bullish bias, driven by the ongoing momentum and breach of key levels.
