Silver price draws positive pattern - Analysis - 20-06-2022

Silver price shows mixed trades by today’s open, to rise now and approach 21.85 level, and by taking a deeper look at the chart, we find that the price forms inverted head and shoulders’ pattern that its confirmation line located at 21.95, which means that breaching this level will motivate the price to recover and achieve gains that start by testing 22.67.

Stochastic provides positive signals that we expect to assist to push the price to complete the suggested pattern, which makes us suggest witnessing more bullish bias in the upcoming sessions, noting that breaking 21.45 will cancel the mentioned positive formation and press on the price to decline again.

The expected trading range for today is between 21.45 support and 22.20 resistance.

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The expected trend for today: Bullish