2
Silver prices tested the $30.63 level once again but have remained below it, keeping the bearish trend intact for the near term. This trend is further supported by the negative pressure from the 50-day Exponential Moving Average (EMA) and the stochastic indicator nearing overbought levels.
As a result, negative price movement is expected in the coming sessions, provided that silver stays below the $30.63 level. The first target for the bearish move is set at $29.63.
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For today, the expected trading range is between $29.95 as the support level and $30.85 as the resistance level.
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Trend Forecast: Bearish
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