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Silver prices have failed to maintain a breakout above $27.62, settling below this level and continuing to exhibit bearish trends within a defined channel on the chart. The outlook suggests further declines, with targets extending to $27.00 and subsequently to $26.12. The stochastic indicator is showing negative signals, reinforcing the anticipated downward movement.
Support for this bearish trend is provided by the 50-day Exponential Moving Average (EMA), which indicates that the negative momentum will persist as long as prices remain below $28.20, and more critically, below $28.55.
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For today, the anticipated trading range for silver is between a support level of $27.30 and a resistance level of $28.20.
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Trend Forecast: Bearish
