Silver price approaches the target - Analysis - 06-03-2023
3 months ago

Silver price resumed its positive trades to surpass the EMA50 and approaches our waited target at 21.40, noticing that the price completed forming double bottom pattern that its signs appear on the chart, which has positive targets that surpass the mentioned level to reach 21.85 followed by 22.13.


Therefore, we expect to witness more bullish bias in the upcoming sessions, taking into consideration that failing to breach 21.40 will stop the positive scenario and press on the price to rebound bearishly towards 20.40 areas initially.


The expected trading range for today is between 20.95 support and 21.70 resistance.

The expected trend for today: Bullish

Commodities News

Gold News


Gold declines under pressure from the dollar
1 hour ago
Gold prices declined in European trade for the first session in three under pressure from the ...
Gold News


Gold extends gains but still trades below $2,000
15 hours ago
Gold prices rose on Tuesday even as the dollar muscled up against major rivals, but the precious ...
Copper News


Copper loses momentum amid economic concerns and technical signals
18 hours ago
Copper prices stalled on Tuesday on continuous concerns about economic growth following weak US and ...

Commodities Technical Analysis

Brent oil Analysis


Midday update for Brent oil 07-06-2023
33 minutes ago
Brent oil price trades positively to approach the key resistance 76.80, and as long as the price is ...
Oil Analysis


Midday update for Crude oil 07-06-2023
33 minutes ago
Crude oil price shows bullish bias to attempt to breach 71.55 level, which urges caution from the ...
Silver Analysis


Midday update for Silver 07-06-2023
33 minutes ago
Silver price settles below the intraday bullish channel’s support line, reinforcing the ...