Silver Price Struggles Below $30.63, Bearish Trend Remains in Play

Silver prices recently tested the $30.63 level but have maintained stability below it, keeping the bearish trend intact. This is further supported by the downward pressure from the 50-period exponential moving average (EMA50) and stochastic indicators nearing overbought conditions.

As a result, negative price movement is anticipated in the upcoming sessions, provided the price remains below the $30.63 mark. The initial target is set at $29.63.

For today, the expected trading range is between support at $29.95 and resistance at $30.85.

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