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Silver Prices Garner Positive Momentum

by Jennifer

Silver prices have displayed a slight hint of negativity, nearing the crucial support level at 22.25. It is noteworthy that the stochastic indicator is gradually gaining positive momentum, a sign that may serve as a catalyst for silver to resume its anticipated bullish trajectory in the forthcoming period, with the next target lying at the 23.00 level.

As it stands, the positive scenario remains in force, further bolstered by the presence of the EMA50. However, it is crucial to monitor the support at 22.25 closely, as a breach of this level could annul the positive formation that underpins the suggested bullish trend and potentially induce a downturn.

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For today’s trading session, the expected range is likely to span from the support at 22.20 to the resistance at 23.00, firmly establishing a bullish trend for the day.

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