Silver price resumes the rise - Analysis - 19-10-2021

Silver price bounced upwards clearly after testing 23.15 in the previous sessions and consolidating above it, to keep the positive effect of the inverted head and shoulders’ pattern active, supported by the EMA50 that carries the price from below, waiting to visit 24.20 as a next main target.

Note that breaching the targeted level will extend the bullish wave to reach 25.05, while breaking 23.15 will stop the positive scenario and press on the price to return to the main bearish track again.

The expected trading range for today is between 23.15 support and 24.00 resistance.

The expected trend for today: Bullish