Silver price approaches the target

Silver price resumed its positive trades to surpass the EMA50 and approaches our waited target at 21.40, noticing that the price completed forming double bottom pattern that its signs appear on the chart, which has positive targets that surpass the mentioned level to reach 21.85 followed by 22.13.

Therefore, we expect to witness more bullish bias in the upcoming sessions, taking into consideration that failing to breach 21.40 will stop the positive scenario and press on the price to rebound bearishly towards 20.40 areas initially.

Alien Metals Ltd (LON:UFO) is a global minerals exploration and development company that will shortly make the transition to iron ore producer. The company was formed from Arian Silver in late 2018, retaining some of the companies more valuable Mexican projects before embarking on an acquisition led strategy, headed up by an excellent geological team and targeted entirely on Western Australia.

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