Silver price attempts positively - Analysis - 15-03-2023

Silver price resumes its positive trading to gradually approach our waited target at 22.13, getting continuous positive support by the EMA50, to reinforce the chances of continuing the rise and surpassing the mentioned level to achieve additional gains that reach 23.05.

Therefore, we will continue to suggest the bullish trend for the upcoming period, which depends on the price stability above 21.40, as breaking this level represents negative factor that will press on the price to decline towards 20.64 initially, which represents key level to determine the next trend on the intraday and short term basis.

The expected trading range for today is between 21.50 support and 22.30 resistance.

The expected trend for today: Bullish