Silver prices recently tested the $23.70 level and demonstrated stability above it. The 50-day Exponential Moving Average (EMA50) intersects this support, providing additional reinforcement. Furthermore, positive signals from the stochastic indicator contribute to the likelihood of the resumption of the expected bullish trend on an intraday basis, with a primary target set at $24.60.
Sustaining a position above the $23.70 level is crucial for the continuation of the anticipated bullish trend. As long as this support holds, the market is poised for further upward movement in the upcoming sessions.
The expected trading range for today is forecasted to fluctuate between support at $23.60 and resistance at $24.40.
Anticipated Trend for Today: Bullish
