Silver price hits the target - Analysis - 03-02-2023

Economies.com
2023-02-03 05:22AM UTC

Silver price touched our waited target at 24.55 and bounced downwards strongly from there, to head towards potential test to 23.05, thus, we expect to witness negative trades in the upcoming sessions, noting that the expected decline is temporary, waiting to resume the main bullish trend again.

 

Note that breaking the targeted level will push the price to suffer additional losses that reach 22.15, while breaching 23.80 will stop the expected decline and lead the price to return to the bullish track again.

 

The expected trading range for today is between 23.00 support and 23.80 resistance.

 

The expected trend for today: Bearish temporarily

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