24K99 News At the end of the Asian market on Thursday (May 9), spot silver suddenly rose sharply in the short term. The price of gold is currently close to 27.70 US dollars/ounce, surging 1.3% during the day. Economies.com, a well-known financial information website, recently wrote a forward-looking analysis of silver trends.

According to Economies.com, the silver price is expected to rise further in the future after breaking through the first bullish target of $27.65 per ounce.

(5 minute chart of spot silver source: 24K99)

Economies.com wrote in the article that after falling slightly during the previous trading sessions, silver prices are currently showing an upward trend. As shown in the chart, silver prices are approaching the support of the bullish channel that previously fell.

(Spot silver 4-hour chart source: Economies.com)

According to Economies.com, the price of silver is expected to rise further to $28.00 per ounce, which is the main bullish target for silver. We continue to predict a bullish trend in silver prices for some time to come. It should be pointed out that if the silver price falls below $26.90 per ounce, this will stop the bullish scenario and push the silver price to once again bear bearish pressure.

Economies.com predicts that today's silver price trading will be between the support level of 27.10 US dollars/ounce and the resistance level of 27.80 US dollars/ounce.

According to Economies.com, the expected trend for silver prices is bullish.

At 13:41 Beijing time, spot silver was reported at 27.69 US dollars/ounce.