Silver prices have been showing positive sentiment for some time, attempting to move further away from the 23.05 level, supporting the continuation of the uptrend expected both intraday and in the short term, which is influenced by a previously completed inverted head and shoulders pattern, the chance of success supporting us from 12 noon to 12.50 am Positive goals for points.

Large speculators (preemptively hedge funds) increased their net long positions in silver cash by 7,961 contracts to a 4-month high of 29,995 contracts. Speculative long positions in silver futures and options also rose, by 4,545 contracts to 46,793 contracts in this case, a 4-month high as well. In contrast, speculative short positions in silver futures and options fell 3,416 contracts to 16,798 contracts, a 4-month low. The increase in open interest suggests that large whales are quite confident that the price of silver will continue to rise.

Therefore, the bullish trend scenario will remain active, so we should watch out for a breakout above 23.05 and 22.85 for price to ease a bit and test the key 22.13 support level before starting a fresh attempt pushing higher.

Today's expected trading range is between 23.00 support and 23.70 resistance.