Silver price returns to rise - Analysis - 03-03-2023

Silver price bounced upwards after reaching the thresholds of 20.64 level yesterday, to resume the expected bullish track on the intraday basis, noticing that the price recorded higher low as appears on the chart, reinforcing the expectations of achieving more rise in the upcoming sessions, waiting to test 21.40 as a first target.

Stochastic loss to the positive momentum might press on the price to provide temporary sideways trades before resuming the expected rise, noting that breaking 20.64 will stop the suggested bullish trend and push the price to decline again, to open the way to suffer new losses that reach 19.70.

The expected trading range for today is between 20.70 support and 21.40 resistance.

The expected trend for today: Bullish