Silver price is recovering - Analysis - 07-05-2021

Economies.com
2021-05-07 00:11AM UTC

Silver price breached 26.70 level to settle inside the bullish channel again, which reactivates the bullish trend scenario, supported by the EMA50 that carries the price from below, waiting for more rise to visit 28.25 followed by 29.00 as next main stations.

 

Stochastic negativity might cause some temporary sideways fluctuation before resuming the expected bullish trend, which will remain valid conditioned by the price stability above 26.80.

 

The expected trading range for today is between 26.80 support and 28.00 resistance.

 

The expected trend for today: Bullish

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