Silver prices have shown a heightened bearish bias, with the aim of confirming the breakdown of the neckline of a triple top pattern. This development reinforces expectations for the continuation of the bearish trend on an intraday basis, with initial targets set at 22.25 and extending further to 21.35 following the breach of the previous level.
The negative pressure formed by the EMA50 further supports the prospect of continued declines. This bearish scenario remains in effect as long as the price remains below the 23.00 level.
The anticipated trading range for today is expected to fluctuate between support at 22.00 and resistance at 22.80.
In summary, the prevailing trend for today is expected to be bearish, with silver prices completing the bearish pattern and confirming the potential for further declines.
