The price of silver currently hovers around the $27.40 mark, exhibiting a subdued rise while awaiting definitive signals to determine its next trajectory. Technical analysis reveals conflicting indicators, contributing to a stance of neutrality in our forecast.
In the absence of clear signals, investors are advised to maintain a cautious approach. A breach of the $26.90 support level could signify a resumption of the corrective bearish trend, with a primary target set at $26.00. Conversely, surpassing the $28.00 resistance level would suggest a return to the primary bullish trend, with upside targets commencing at $28.80 and extending to $29.80.
Expected Trading Range:
Traders should anticipate price movements within the range bounded by the support level at $26.90 and the resistance level at $27.90.
Trend Forecast:
Given the conflicting technical signals, the prevailing trend forecast remains neutral. Investors are urged to exercise prudence and await clearer market indications before making significant trading decisions.
