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Silver Price Analysis
Expected Scenario
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Silver prices have reached our initial target at $28.55 and are currently hovering near this level. Stochastic indicators are now showing negative signals, suggesting a potential resumption of the expected bearish trend in the intraday and short-term periods. The next targeted level remains at $27.62.
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The bearish pressure indicated by the 50-day Exponential Moving Average (EMA50) strengthens expectations for continued decline. However, if the price breaks above $29.30, it would interrupt the negative scenario and initiate recovery attempts, targeting $30.06 initially.
Expected Trading Range
Support: $28.20
Resistance: $29.10
Trend Forecast: Bearish
