The price of silver has confirmed its breach of the crucial support level at 24.60, a trend that persisted following its decline below this level yesterday. This development signals the potential for further declines in the upcoming trading sessions, with initial targets set at 24.15, followed by 23.70 as the next significant levels to watch.
The sustainability of trading below 24.60 maintains the active bearish trend scenario. However, should the price successfully breach and sustain itself above this level, it could pave the way for renewed recovery attempts, with key resistance levels at 25.00, followed by 25.50 as primary objectives.
For today’s trading outlook, the anticipated support level rests at 23.95, while resistance is expected at 24.70.
The prevailing trend for today is poised to remain bearish.
