Silver price resumes the rise - Forecast today - 09-04-2024

Silver Price Analysis

Expected Scenario

Silver price resumes its positive trading after the decline witnessed in the previous sessions, reaching the 28.00$ barrier again. We are waiting for it to surpass this level to open the way towards 28.75$, which represents our next main target.

The bullish channel continues to carry the price to achieve more gains and organize the expected bullish wave, continuously supported by the EMA50. Note that breaking 27.05$ will stop the suggested rise and push the price to achieve some intraday bearish correction before resuming the bullish wave again.

Expected Trading Range

Between the support at 27.70$ and the resistance at 28.50$