Silver price completes positive pattern - Analysis - 20-05-2022

Economies.com
2022-05-20 04:27AM UTC

Silver price rallied upwards yesterday to breach 21.83 and settles above it, and by taking a deeper look at the chart, we find that the price completed forming inverted head and shoulders’ pattern, to get positive motive that we expect to push the price to achieve new bullish correction that targets 22.67 level as a next main station.

 

Therefore, the bullish bias will be suggested in the upcoming sessions, noting that breaking 21.75 – 21.65 levels will stop the expected rise and press on the price to return to the main bearish track again.

 

The expected trading range for today is between 21.55 support and 22.40 resistance.

 

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The expected trend for today: Bullish

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