Silver price gathers the positive momentum – Analysis - 26-01-2021

Silver price provided negative trades yesterday and settled below 25.50, noticing that the EMA50 attempts to protect the price from achieving more decline, while stochastic gets rid of its negative momentum to approach the oversold areas, which supports the chances of recovering in the upcoming sessions and regaining the bullish trend again.

Therefore, we will keep our bullish overview for today conditioned by the price stability above 25.50, noting that our positive targets begin at 27.70 and extend to 28.90, while failing to hold above 25.50 will push the price to continue the decline and head towards 24.20 initially.

The expected trading range for today is between 24.80 support and 26.00 resistance.

The expected trend for today: Bullish