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Silver prices have successfully reached our second target of $27.62. However, stochastic indicators are losing positive momentum, indicating a higher likelihood of resuming negative trades and breaking below this level. This would pave the way for further declines in the intraday and short-term periods, with the next targets set at $27.00 and $26.12.
The EMA50 is exerting negative pressure, reinforcing the continuation of the bearish trend. This outlook remains valid as long as prices stay below the $28.55 threshold.
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The expected trading range for today is between the support level of $27.40 and the resistance level of $28.20.
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Trend Forecast: Bearish
