In the midday update, the silver market is witnessing a determined effort to breach the crucial 24.05 level, a move that would fortify the ongoing bullish trend anticipated for today. Analysts emphasize that a successful breach could pave the way for a visit to the next primary target at 24.60. It is paramount to note that the sustainability of the bullish wave is contingent upon the price maintaining stability above the 23.70 level.
Market expectations for the remainder of the day project a trading range between the support level at 23.60 and the resistance level at 24.40. This range provides a framework for gauging potential price movements in the short term.
As of now, the overall trend remains bullish for silver, marked by the ongoing efforts to surpass key resistance levels. Investors and traders will be closely monitoring the price’s ability to break and sustain above 24.05, as any deviation from this trajectory could influence the prevailing sentiment and alter the current positive outlook.
