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Silver prices exhibited a positive trend yesterday and opened today with further gains, aiming to surpass the $27.62 mark. This movement suggests a potential halt to the current bearish trend. However, technical indicators are presenting negative signals, which may lead to another decline.
Given the conflicting technical factors, it is advisable to remain cautious until silver prices stabilize around the $27.62 level. If prices stay below this threshold, they may continue to decline, targeting $26.12. Conversely, breaching $27.62 could pave the way for further gains, potentially reaching $28.55.
Today’s expected trading range is between $27.10 support and $28.15 resistance.
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