Silver price faces solid resistance - Analysis - 02-06-2022

Silver price traded with clear positivity yesterday but it hit solid resistance at 21.85, as the EMA50 met this level to add more strength to it, besides witnessing clear negative signals through stochastic, which makes us prefer to stay neutral until breaching this resistance or breaking 21.50 support to detect its next destination clearly.

Note that breaching the mentioned resistance will push the price to achieve positive targets that reach 22.67, while breaking the support represents the key to return to the main bearish track and achieve negative levels that start at 21.00 and extend to 20.50.

The expected trading range for today is between 21.30 support and 22.20 resistance.

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The expected trend for today: Neutral