Silver prices rose in the last intraday trading, after it leaned on EMA50’s support, accompanied by testing $86.00 support, forming double technical support that provided clear bullish momentum and helped the price to rebound quickly and recover.
This improvement comes amid the continuation of the bullish corrective trend dominance on short-term basis, supported by the emergence of positive overlapping signals on relative strength indicators, after reaching sharp oversold levels, reinforcing the likelihoods of continuing the upside track in the near period unless selling pressures appear to retest support levels.
Accordingly, we suggest a rise in sliver’s upcoming intraday trading, if $92.00 support settles, to target the psychological main resistance at $100.00.
The expected trading range is between $86.00 support and $100.00 resistance.
Today’s forecast: Bullish
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