Silver price completes the positive pattern - Analysis - 12-11-2021

Silver price managed to confirm breaching 25.05 level after closing the daily candlestick above it, on the other hand, the price completed forming the inverted head and shoulders’ pattern that appears on the chart, which supports the chances of continuing the correctional bullish trend on the intraday and short term basis, and the targets begin at 25.95 and extend to 27.00.

Therefore, we expect to witness more rise in the upcoming sessions, supported by the EMA50, noting that breaking 25.05 followed by 24.80 levels will stop the positive scenario and press on the price to return to the main bearish track again.

The expected trading range for today is between 24.70 support and 25.80 resistance.

The expected trend for today: Bullish