Silver price is affected by the negative momentum - Analysis - 03-04-2023

Silver prices provides negative trades now, to approach testing the bullish channel’s support line that appears on the chart, as the price is affected by stochastic negativity, waiting to get positive momentum that assists to push the price to resume the bullish wave that its next target reaches 24.50.

The EMA50 continues to support the price from below, to support the continuation of the expected bullish trend scenario on the intraday and short term basis, noting that breaking 23.65 will stop the bullish wave and press on the price to test 23.05 areas before any new attempt to rise.

The expected trading range for today is between 23.50 support and 24.40 resistance.

The expected trend for today: Bullish