Silver price returns to test the support - Forecast today - 17-04-2024

Silver Price Analysis

Expected Scenario

• Silver price tested the key support at 28.00$ again and maintains its stability above it for now. The EMA50 meeting this support adds more strength to it, accompanied by clear positive signals through stochastic.
• We believe that there are valid chances to resume the main bullish trend in the upcoming sessions, with the next main target at 29.80$. However, breaking below 28.00$ will stop the expected rise and may lead to additional bearish correction, with the next target at 26.90$.

Expected Trading Range

Between 28.00$ support and 28.80$ resistance.