Silver price forecast update 23-05-2024

Silver Price Analysis

Expected Scenario

• Silver price fluctuates around the EMA50 that forms good support against the price, waiting to test 30.06$ that represents our next main target, reminding you that breaking it will push the price to suffer additional losses that reach 29.30$.
• In general, we will continue to suggest the bearish trend for today unless the price rallies to breach 31.00$ and holds above it.

Expected Trading Range

Between 29.70$ support and 30.60$ resistance.