The silver market concluded the previous session on a positive note, marking an upward move that surpassed the 22.25 threshold and secured a settlement above it. This development suggests a potential shift towards a bullish trajectory. However, it is crucial to note that certain technical indicators are conveying negative signals, introducing an element of uncertainty regarding the price’s future direction.
Given this conflicting scenario, a prudent approach would be to withhold definitive actions until clearer signals emerge to delineate the next trend. Notably, the ongoing ascent and a breach of the 22.55 mark could propel the price to attain further gains, with an initial target set at 23.00. Conversely, a dip below 22.25 would reignite the potential for a bearish trend, with 21.35 identified as the subsequent key downside objective.
For today’s trading session, market participants are advised to consider the expected trading range, with support anticipated at 21.85 and resistance at 22.70. The prevailing trend for the day is forecasted as neutral, underscoring the importance of cautious observation amid the current market dynamics.
