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Silver prices have initiated a new round of negative trades, distancing from the $23.00 level. This further strengthens expectations for a sustained bearish trend in the upcoming sessions, with the primary target set at $22.25.
The negative scenario remains active, supported by the downward pressure exerted by the EMA50. It’s crucial to monitor the $23.00 level, as a breach would interrupt the current negative momentum and initiate intraday recovery attempts.
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Traders should focus on the $22.30 support level and the $22.95 resistance level as key indicators for potential price movements.
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Expected Trading Range: $22.30 (Support) – $22.95 (Resistance)
Expected Trend: Bearish
