Silver price hits the negative target - Forecast today - 23-04-2024

Silver Price Analysis

Expected Scenario

• Silver price successfully reached our awaited target at 26.90$ and found solid support there, representing the 38.2% Fibonacci correction level for the rise from 22.26$ to 29.78$. Clear positive signals through stochastic support the chances of starting an intraday bullish wave in the upcoming sessions, targeting initial testing of 28.00$.
• Expectations lean towards witnessing positive trades today. However, any break below 26.90$ will halt the positive scenario and push the price to achieve additional bearish correction, with the next target around 26.00$.

Expected Trading Range

Between the support at 26.70$ and the resistance at 27.50$