Silver prices concluded yesterday’s trading session beneath the 23.00 level, indicating the commencement of anticipated downward pressure in the upcoming sessions. This decline is expected to drive prices towards negative targets, with 22.25 being the initial goal. This confirms the suggested bearish bias on an intraday basis.
The ongoing bearish trajectory is supported by the price trading below the EMA50. It’s essential to note that breaching the targeted level could extend the bearish momentum, potentially pushing prices towards the 21.35 area in the near term. Continuation of the bearish trend hinges on the price remaining below 23.00.
Today’s expected trading range lies between the support at 22.25 and resistance at 23.00.
Anticipated Trend for Today: Bearish
