Silver price has successfully surpassed the anticipated target at 25.50 and approached the extended objective of 26.07. The current scenario sees the price fluctuating around the initial level, poised for positive momentum that could propel the metal to resume its bullish wave and secure further gains in the upcoming sessions.
Although stochastic indicators exhibit negativity, contributing to the current sideways movement, the EMA50 provides robust support for the envisioned bullish trajectory. It is essential to monitor whether the price can breach the 25.50 level, as a failure to do so might prompt a bearish rebound, leading the price towards the 24.60 areas primarily.
The projected trading range for today is positioned between the support level at 25.10 and the resistance level at 26.00.
The prevailing trend expectation for today remains bullish, aligning with the existing market dynamics.
