Overview
The silver price shows more sideways movements in tight ranges. A deeper look at the intraday time frames revealed that the recent trades are confined to a Bullish Pennant pattern shown on the minor image. Therefore, a breach of this pattern's resistance at 20.35 will support the continuation of the main bullish trend. Therefore, our bullish overview will remain valid and active until now supported by the EMA50. The price is likely to target 22.00 followed by 22.40 levels mainly. Holding above 19.35 levels represents the key condition for achieving the suggested targets.
The expected trading range for today is between the 19.50 support and the 20.80 resistance.
