Silver price forecast update 08-04-2024

Silver Price Analysis

Expected Scenario

• Silver price rallied upwards strongly this morning to succeed touching our waited target at 28.00$, and we believe that the way is open to achieve additional rises and target 28.75$ levels as a next positive station.
• The bullish trend will remain dominant in the upcoming sessions, supported by the EMA50, taking into consideration that holding above 27.10$ represents key condition to the continuation of the expected rise.

Expected Trading Range

Between 27.50$ support and 28.30$ resistance.