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Silver prices continued their decline in recent sessions and have now surpassed the initial negative target of $28.55. This breach opens the path for further declines, with the next key target set at $27.62.
The bearish trend is expected to persist on an intraday basis, though some sideways fluctuations may occur due to the current positive reading on the stochastic indicator. For the downtrend to remain intact, the price must hold below $28.55 to prevent a potential reversal.
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Today’s anticipated trading range is between the support level of $27.85 and the resistance level of $28.65.
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Trend Forecast: Bearish
