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Silver prices exhibited noticeable positive movement yesterday and have continued to rise today, approaching the $27.62 level. This suggests a potential recovery from the recent bearish trend. However, current technical indicators are showing negative signals that could prompt a decline.
Given this technical divergence, a cautious approach is recommended until the price firmly establishes its position relative to the $27.62 level. If the price remains below this threshold, it may resume its bearish trend, targeting $26.12. Conversely, a breach of $27.62 could lead to further gains, potentially reaching $28.55.
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Today’s anticipated trading range is between the support level of $27.10 and the resistance level of $28.15.
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Trend Forecast: Neutral
