Silver prices are currently testing the critical support level of $29.30, encountering significant resistance. The market awaits a decisive catalyst to confirm a breakthrough, potentially opening the path towards lower targets beginning at $28.55 and extending to $27.62 following a successful breach.
The prevailing outlook suggests a bearish trend in the near term. It remains crucial for prices to remain below $30.06 to validate the anticipated downward trajectory.
Expected Trading Range:
Market analysts anticipate trading to range between the support level of $28.85 and the resistance level of $29.75.
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