The price of silver remains steady, hovering around the 24.00 level, influenced by stochastic indicators exhibiting negativity that impedes the ongoing ascent. Investors are eagerly awaiting a shift in momentum that would propel the price to resume its bullish trajectory, with a target set at 24.60.
In light of current market dynamics, the scenario supporting a bullish trend persists, contingent on the anticipation of positive momentum materializing. It is crucial to note that the bullish outlook remains intact as long as the price maintains levels above 23.70. A breach of the 23.70 threshold, however, could expose the price to negative pressure, leading it towards the 23.00 areas in the near term.
For today’s trading prospects, the expected range is anticipated to fluctuate between a support level at 23.80 and a resistance level at 24.60. Despite the current challenges posed by stochastic influences, the overall trend for the day is anticipated to be bullish, pending a potential shift in momentum.
Traders are advised to monitor the situation closely, with particular attention to the critical support and resistance levels, as the silver market awaits the catalyst that could reignite a sustained bullish movement.
