Silver price touches the first target - Analysis - 16-03-2023

Silver price managed to achieve our waited target at 22.13 and found solid resistance there, to show some temporary bearish bias, noticing that stochastic gains the positive momentum clearly, waiting to motivate the price to resume the bullish wave and surpass the mentioned level to head towards 23.05 as a next main target.

Therefore, we will continue to suggest the bullish trend in the upcoming sessions, depending on the price stability above 21.40, as breaking it represents negative factor that will push the price to visit 20.64 initially before determining the next trend clearly.

The expected trading range for today is between 21.40 support and 22.30 resistance.

The expected trend for today: Bullish