The price of silver is currently stabilizing around $27.00, with market analysis indicating a potential shift in momentum as the stochastic indicator shows signs of losing its positive trend. Analysts anticipate this development could prompt a resumption of bearish trading, targeting the next major support level at $26.12.
The market outlook suggests a continuation of the bearish trend in the near term, constrained within a downward channel visible on the charts. A crucial resistance level to watch is $27.62; a breach above this point would invalidate the bearish bias, potentially triggering a recovery phase with initial targets near $28.55.
Today’s anticipated trading range is projected between support at $26.50 and resistance at $27.50, reflecting ongoing market sentiment and technical levels.
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