Silver price resumes the rise - Forecast today - 16-04-2024

Silver Price Analysis

Expected Scenario

• Silver price bounced bullishly after testing 28.00$ in the previous sessions, to resume the bullish trend within the bullish channel that appears on the chart, and we believe that the way is open to achieve our main awaited target at 29.80$.
• Stochastic negativity might slow down the bullish wave and cause some sideways fluctuation, while in general, we will continue to suggest the bullish trend for the upcoming period unless breaking 28.00$ and holding below it.

Expected Outcome

The expected trading range for today is between 28.50$ support and 29.20$ resistance.