Silver prices surpass the first target- Analysis - 20-03-2023
2 months ago

Silver price breached 22.13 level clearly and settled above it, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, and the way is open to head towards our next target that reaches 23.05.


By taking a deeper look at the chart, we find that the price completed forming inverted head and shoulders’ pattern that has positive targets that surpass the mentioned level to reach 24.00 areas.


Therefore, we expect to witness more rise on the intraday and short term basis, supported by the EMA50 that continues to carry the price from below, noting that breaking 22.13 will stop the bullish bias and put the price under intraday negative pressure that its targets begin by testing 21.40.


The expected trading range for today is between 21.90 support and 22.65 resistance.

The expected trend for today: Bullish

Commodities News

Gold News


Gold extends gains but still trades below $2,000
14 hours ago
Gold prices rose on Tuesday even as the dollar muscled up against major rivals, but the precious ...
Copper News


Copper loses momentum amid economic concerns and technical signals
17 hours ago
Copper prices stalled on Tuesday on continuous concerns about economic growth following weak US and ...
Oil News


Oil backs off five-week high on economic concerns
19 hours ago
Oil prices fell in European trade for the first session in four off five-week high on ...

Commodities Technical Analysis

Natural gas Analysis


Natural gas price without any change – Analysis – 7-6-2023
3 hours ago
Natural gas price still waiting for any motivate to manage to exit the recently dominating calm ...
Copper Analysis


Copper price needs new momentum – Analysis – 7-6-2023
3 hours ago
Copper price kept its positive stability above 3.5700 support line, to increase the chances of ...
Technical Analysis


Wheat price achieves clear gains – Analysis - 07-06-2023
4 hours ago
Wheat price provided strong positive trades yesterday to reach 654.40, but it bounced bearishly to ...