Silver price succeeded to touch our first waited target at 26.20 and bounced downwards slightly to settle around 26.00, noticing that stochastic gets rid of its negative momentum clearly to approach the oversold areas, which support the chances of resuming the expected bullish trend for the upcoming period, which its next target extends to reach 27.00.
Therefore, we will continue to suggest the bullish trend on the intraday and short term basis supported by the EMA50, reminding you that holding above 25.50 is important to achieve the waited targets.
The expected trading range for today is between 25.50 support and 26.50 resistance.
The expected trend for today: Bullish