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Silver price has demonstrated a significant rebound after a recent test of the 23.00 level. This resurgence signifies a continuation of the bullish trajectory, with the price approaching the anticipated target at 23.70. It is worth noting that close attention should be paid to the price’s behavior around this level. A breach of 23.70 would be a pivotal point, potentially triggering further gains towards the 24.60 region.
Consequently, the short-term outlook suggests a continued bullish bias, unless the price breaks below 23.00 and maintains a position below this level.
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The expected trading range for today is likely to be between the support at 23.20 and the resistance at 24.00.
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Anticipated Trend for the Day: Bullish
