Silver Prices Rebound from $23.00 Support Level, Awaiting Intraday Bullish Momentum

Silver prices recently tested the $23.00 level and exhibited a bullish bounce, indicating a potential resumption of the anticipated bullish trend on an intraday basis. It’s worth noting that the next optimistic target stands at $23.70.

Currently, there is some temporary sideways fluctuation likely due to the prevailing negativity in the Stochastic indicator. However, this is expected to be a brief pause before the suggested upward movement resumes. It’s essential to monitor the $23.00 level closely, as a break below it would negate the positive scenario and lead to a price decline.

The expected trading range for today is anticipated to fall between the support level at $22.90 and the resistance level at $23.70.