Silver prices have consolidated above the 23.00 level, initiating today’s trading session with a bullish bias, indicating a potential move towards achieving some expected intraday gains. The next target for this upward movement is set in the range of 23.45 to 23.70.
It’s important to note that while the current trend suggests a temporary bullish bias, the overall outlook is waiting to resume the bearish wave influenced by a previously completed head and shoulders’ pattern. Traders should be vigilant, as breaking below the support level at 23.00 would halt the suggested rise and possibly trigger a decline once again.
For today’s trading, the expected range is between the support level at 22.60 and the resistance level at 23.70. The prevailing trend for the day is anticipated to be bullish temporarily. Traders and investors are advised to monitor price movements closely and stay informed about key support and resistance levels for strategic decision-making.
