Silver price forecast update 06-05-2024
Economies.com
2024-05-06 11:08AM UTC
Silver Price Analysis
- Silver price breached the 26.90$ level clearly and closed the last four hours’ candlestick above it.
- The price is heading towards building a bullish wave targeting the 28.00$ barrier as the first main station.
- Note that breaching 27.40$ will add more confirmation to the continuation of the expected rise.
- Therefore, the bullish bias will be suggested for the rest of the day unless breaking 26.90$ and holding below it again.
Expected Trading Range for Today:
- Support: 26.85$
- Resistance: 27.50$
Trend Forecast:
Bullish
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