Silver prices (SILVER) declined slightly in their recent intraday trading, to rearrange its positions and gain the required momentum to attempt to breach key resistance at $84.00.
At the same time, the price is offloading the clear overbought conditions on relative strength indicators, with the emergence of negative signals from there, which makes this decline represents a chance for leaning on EMA50’s support, amid the continuation of minor bullish wave dominance on short-term basis.
Accordingly, we suggest a rise in sliver’s upcoming intraday trading, especially when breaching $84.00 resistance, to target the next resistance at $92.30.
The expected trading range is between $78.00 support and $90.30 resistance.
Today’s forecast: Bullish