Silver prices rose higher in their last intraday trading, after its decline due to the stability of $115.00 resistance, which represents expected target in our previous analysis, this decline came within a profit-taking move following the recent gains, before the price attempts once again to regain positive momentum that could help it move toward recording new record highs.
The price succeeded in offloading its overbought conditions on relative strength indicators, to enter exaggerated oversold levels compared to the price move, accompanied by the continuation of the dynamic support that is represented by its trading above EMA50, under the dominance of the main bullish trend, with its trading alongside main and minor trend lines on short-term basis.