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Silver prices recently found substantial support at $24.60, coinciding with stochastic indicators reaching oversold territories. This convergence presents a positive impetus that is expected to drive the price towards recovery and initiate a new bullish wave on an intraday basis, with initial targets ranging from $25.50 to $26.07.
As such, a positive trading outlook is suggested for the upcoming sessions. However, it’s essential to note that a breach of the $24.60 support level could lead to further losses, potentially pushing the price down to $24.00, followed by $23.70.
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For today’s trading range, analysts anticipate fluctuations between the support level at $24.55 and resistance at $25.30.
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Overall Trend Outlook: Bullish
