Silver price breaches the resistance - Analysis - 13-03-2023

Silver price begins today with clear positivity to breach 20.64 level and settles above it, which stops the correctional bearish scenario and leads the price to start recovery attempts on the intraday basis, as it exited the bearish channel to head towards achieving gains that start at 21.40.

Therefore, the bullish bias will be suggested for today, supported by moving above the EAM50, noting that surpassing the targeted level will push the price to 22.13 as a next positive target.

On the other hand, we should note that breaking 20.64 will stop the positive scenario and push the price to decline again.

The expected trading range for today is between 20.60 support and 21.25 resistance.

The expected trend for today: Bullish