Silver prices recently encountered resistance at the $29.30 mark and have since maintained levels below it, signaling a bearish trend. Analysts anticipate a potential decline towards the initial support level at $28.55, with further downside momentum likely targeting $27.62 as the next key level.
Technical indicators, specifically the Stochastic oscillator, have shown a clear loss of positive momentum, reinforcing expectations of a downward trend in upcoming trading sessions. Market sentiment remains cautious, with the continuation of bearish movements contingent upon silver prices remaining below critical resistance levels at $29.30 and $30.06.
Today’s expected trading range suggests support at $28.50 and resistance at $29.35, highlighting the current volatility and key price levels influencing market sentiment.
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