The price of silver recently breached the critical $29.30 level, signaling a bearish rally towards the anticipated downside target of $28.55. Analysts suggest that the path is now clear for further declines, potentially breaking below this mark and targeting $27.62 as the next significant support level.
Market expectations lean towards continued bearish sentiment in the upcoming trading sessions. However, a decisive breach above $29.30 could prompt the price to initiate recovery efforts, with initial targets around $30.06.
Expected Trading Range: Analysts foresee a trading range bounded by support at $28.30 and resistance at $29.20, indicating key levels to watch amid ongoing market volatility.
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