Silver price achieves more gains – Analysis - 21-12-2020

Silver price rallied upwards strongly by today’s open to reach the thresholds of the main waited target at 26.88, and surpassed the intraday bullish channel’s resistance to hint heading to achieve more gains in the upcoming sessions, motivated by stochastic positivity, to suggest surpassing the mentioned level and extend the bullish wave towards 27.60 as a next main target.

Therefore, the bullish trend will remain dominant in the upcoming sessions, noting that failing to breach 26.88 will stop the expected rise and press on the price to rebound bearishly and test 25.06 areas before any new attempt to rise.

The expected trading range for today is between 26.00 support and 27.60 resistance.

The expected trend for today: Bullish