Silver price achieves clear gains - Analysis - 04-10-2021

Silver price surpassed 22.20 level and achieved additional gains, to approach the most important resistance at 22.90, noticing that the price settles below the intraday bearish channel’s resistance, while stochastic shows clear overbought signals.

Therefore, we believe that the chances valid to resume the bearish trend in the upcoming sessions, to head towards testing 21.65 areas initially, taking into consideration that breaching 22.90 will lead the price to achieve additional rises and test 23.60 level before any new attempt to decline.

The expected trading range for today is between 22.00 support and 22.80 resistance.

The expected trend for today: Bearish