Overview

According to the attached chart, silver price traded positively this morning, moving from our first main target at 15.65, and the price gets support from the EMA50. To keep the bullish trend expectations valid for the rest of the day, its continuation requires holding above the 14.85 level. We remind you that breaching the 15.65 level will extend the bullish wave to 16.30 as a next main station.

Silver price achieved a clear breach to the bearish channel's resistance and settled with a daily close above it, which stops the recently suggested negative scenario and turns trading to the upside, and the positive targets begin at 15.65 and extend to 16.30.