Silver price touches the extended target - Analysis - 31-08-2023

Silver price provided additional positive trades yesterday to touch our new waited target at 25.00, noticing that the price bounced bearishly to press on the key support 24.60, while stochastic gains the positive momentum clearly and enters the oversold areas.

Therefore, we believe that the chances valid to resume the expected bullish trend on the intraday basis, which its next target reaches 25.50, taking into consideration that breaking 24.60 will stop the expected rise and push the price to turn to decline.

The expected trading range for today is between 24.35 support and 25.00 resistance.

The expected trend for today: Bullish