Silver price faces solid resistance - Forecast today - 19-04-2024

Silver Price Analysis

Expected Scenario

• Silver price found solid resistance formed by the broken support of the bullish channel that appears on the chart, finding difficulty to return to this channel until now, to show some temporary bearish bias now, waiting to get positive motive that assist to push the price to resume the positive trades and breach 28.95$ to open the way to rally towards our main expected target at 29.80$.
• Therefore, the bullish trend scenario will remain valid and active for the upcoming period, reminding you that breaking 28.00$ will force the price to suffer intraday losses and achieve bearish correction that targets 26.90$ as a next negative station.

Expected Outcome

The expected trading range for today is between 28.25$ support and 29.20$ resistance.