Silver Prices Drop Below Key Level, Forecasting Further Decline

Silver prices fell below the $29.30 mark yesterday, reinforcing the ongoing bearish trend on an intraday basis. This decline suggests that the price may target $28.55 as the next significant level of support.

Looking ahead, the bearish trend is expected to persist, although there may be some temporary sideways movement and positive fluctuations due to stochastic indicators. Should silver prices break and sustain a position above $29.30, the negative outlook could be reversed, potentially leading to a recovery and testing the $30.06 level.

For today, the anticipated trading range for silver is between $28.85 for support and $29.65 for resistance.