Silver prices have unmistakably breached the crucial 23.00 level, concluding yesterday’s session below this threshold. This definitive break reinforces the ongoing bearish trend scenario on an intraday basis, charting a course towards the next key target at 22.25.
The Stochastic indicator is showing signs of gradually losing positive momentum, further endorsing expectations for a downward trajectory. It is essential to observe a sustained position below the levels of 23.00 and 23.25 for the continuation of the bearish wave.
As of today, the anticipated trading range is situated between the support level at 22.40 and the resistance level at 23.10.
The prevailing trend for today aligns with a bearish sentiment, contingent on market dynamics. Traders are advised to monitor key levels, particularly 23.00 and 23.25, as they hold significance in confirming the overall market sentiment.
