In the ongoing evaluation of silver prices, there emerges a nascent bullish inclination, with the price surpassing the $29.30 threshold. Notably, the EMA50 exerts notable downward pressure on the price, while stochastic indicators indicate a clear loss of positive momentum.
Given these observations, the prevailing sentiment leans towards a continued bearish trajectory in the forthcoming period. The anticipated target lies at $28.55, signaling a downward trend. However, a sustained upward movement leading to a breach of $30.06 could halt the anticipated decline, potentially triggering a reversal towards an upward trajectory.
Expected Trading Range
Today’s anticipated trading range is poised to fluctuate between the support level of $28.85 and the resistance level of $29.70.
Forecast Trend: Bearish
