Technical Analysis: Silver may resume its upward trend again

On June 16, Economies analysts’ latest views today: Yesterday, silver prices rose strongly after approaching our waiting target of 23.00, breaking through 23.70 and fluctuating above EMA50, suggesting that the upward trend may resume again, but it faces stochastic indicators Negative pressure formed, which could force prices down.

We therefore prefer to stay on the sidelines until we get a clearer signal of the next trend, noting that a break below 23.70 would push prices back into a downside correction with the next target at 23.00, while a break above 24.00 would see prices continue to rise with the next target The bit is 24.60.

Today’s expected trading range is between support at 23.40 and resistance at 24.40.