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Silver prices have maintained a sideways trajectory in recent sessions, confined within a bearish channel that suggests a continuation of downward trends in upcoming sessions. Analysts are eyeing a crucial breakout point at $27.62, which could pave the way for a decline towards $27.00 and subsequently $26.12.
Additionally, market observers have noted the formation of a double top pattern, indicating further potential for short-term and medium-term declines. The bearish outlook is contingent upon prices remaining below the critical level of $28.55.
Today’s anticipated trading range spans from support at $27.40 to resistance at $28.20, underscoring the cautious sentiment prevailing in the silver market.
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