Silver price attempts to recover - Forecast today - 24-04-2024

Silver Price

Expected Scenario

• Silver price ended yesterday with clear positivity, as it surpassed 26.90$ level and settled above it again, to hint the attempt to stop the bearish correction that dominates the recent trades, but we notice that the technical indicators provide negative signals that might push the price to decline again.
• The contradiction between the technical indicators makes us prefer to stay aside until we get clearer signal for the next trend, noting that breaking 26.90$ will push the price to visit the next correctional level at 26.00$, while breaching 28.00$ resistance will stop the bearish wave and lead the price to resume the main bullish trend again, to head towards testing 28.95$ followed by 29.80$ areas mainly.

Expected Trading Range

The expected trading range for today is between 26.85$ support and 27.75$ resistance.