Silver Prices Commence on a Positive Note – May 8, 2024

by Jennifer

The silver market opens with a promising outlook today as prices reflect newfound positivity, buoyed by the influence of the EMA50. Analysts foresee a resurgence in the bullish trend, with targets set at $27.50 followed by $28.00 levels.

Positive signals from the Stochastic indicator further bolster expectations for continued upward momentum, supporting the likelihood of further positive trades. However, the sustainability of the bullish wave hinges on maintaining price stability above $26.90.


Presently, silver prices demonstrate fresh positive trades, propelled by the EMA50, as they embark on resuming the anticipated bullish wave in the intraday realm. The immediate targets of $27.50 and $28.00 stand as key milestones in this trajectory.


With the Stochastic indicator signaling positivity, market sentiment remains optimistic regarding the potential for further positive trades in upcoming sessions. It is worth noting that the endurance of the bullish wave is contingent upon maintaining price stability above the $26.90 mark.

In terms of expected trading ranges, support is identified at $27.00, while resistance is anticipated at $27.80. The overall trend forecast aligns with the prevailing bullish sentiment, reflecting the current market analysis and expectations.

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