The trajectory of silver prices has once again reverted to a decline, retracing its steps after a transitory uptrend noted in preceding sessions. This persistent downtrend reaffirms the continuing viability of the bearish trend scenario within the intraday context. The forthcoming trajectory is poised to encompass an initial trial of the 22.25 threshold. It’s noteworthy that a successful breach of this juncture will propel the price towards subsequent bearish benchmarks, initially targeting 21.75 and subsequently extending towards 21.35.
In view of these developments, the imminent sessions are poised for an anticipated decrease, underscoring the necessity of maintaining a sub-23.00 threshold to perpetuate the bearish wave.
As market activity unfolds today, the envisioned trading span oscillates between the underpinning support of 21.90 and the pinnacled resistance at 22.80.
The prevailing market sentiment aligns with a bearish inclination for the day, a stance fortified by the observable market dynamics as market participants keep a watchful eye on the unfolding course of silver prices.
