Silver price tests the support base - Forecast today - 02-04-2024

Silver Price Analysis

Silver price tested the key support formed at 24.85$ after breaching it previously and bounced bullishly from there. This keeps the bullish trend scenario valid and active, supported by the EMA50 that carries the price from below. It is worth noting that stochastic approaches to overlap positively to motivate the price to provide more positive trades.

Our waited targets begin at 25.50$ and extend to 26.07$, noting that it is important to hold above 24.85$ to continue the expected rise.

Trading Range Forecast

The expected trading range for today is between 24.85$ support and 25.60$ resistance.

Trend forecast: Bullish