Midday update for Silver 01-02-2023
Economies.com
2023-02-01 10:22AM UTC
Silver price faces new negative pressure to trade below 23.55 level, to head towards potential test to 23.05 level, which makes us prefer to stay aside until the price confirms surpassing one of these levels to detect the next destination clearly.
Note that the continuation of the decline and breaking 23.05 support will press on the price to achieve additional decline that its next target reaches 22.15, while breaching 23.55 resistance will push the price to achieve gains that start at 24.55.
The expected trading range for today is between 23.10 support and 24.00 resistance.
The expected trend for today: Neutral
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