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Silver price analysis indicates ongoing negative trading, exerting pressure on the $26.90 level and signaling a potential move towards further bearish correction in the forthcoming sessions. Confirmation of a breakthrough below this support level is crucial to pave the way for a rally towards $26.00 as the next correctional target.
Consequently, our forecast maintains a bearish bias for today, underpinned by the negative pressure from the EMA50. However, it’s essential to acknowledge that failure to breach the mentioned support may prompt recovery attempts, with the price testing the $28.00 areas before determining its next clear direction.
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Expected Trading Range:
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- Support: $26.45
- Resistance: $27.20
Trend Forecast: Bearish
