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Silver prices have exhibited clear bearish movement, approaching the anticipated target of $27.62. Despite this, the market has shown some bullish tendencies due to positive stochastic indicators, and there is a possibility that silver may test the key resistance level at $28.55 before resuming its decline.
The bearish outlook will remain in effect unless silver breaks through the $28.55 resistance and maintains a daily close above this level. Should the price fall below $27.62, it will likely face additional downward pressure, with the next target at $27.15.
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The anticipated trading range for today is between $27.60 support and $28.40 resistance.
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Trend Forecast: Bearish
