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Silver prices have encountered strong resistance at the upper boundary of a bearish channel, initiating a downturn and reinforcing the prevailing bearish trend. The negative momentum, highlighted by stochastic indicators, suggests further declines. For confirmation of the ongoing downtrend, the price must break below $27.62, with potential targets at $27.00 and extending to $26.12.
Looking ahead, bearish trends are anticipated to persist unless the price surpasses $28.00, which would reverse the current decline and shift the trend upward.
Today’s trading range is projected between $27.15 support and $27.95 resistance.
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