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Silver prices have exhibited a bearish trend, nearing the anticipated target of $27.62. However, recent stochastic indicators suggest potential for a short-term rebound. The metal may test the crucial resistance level at $28.55 before potentially resuming its decline.
The prevailing negative outlook will persist unless silver surpasses this resistance and maintains a daily close above it. A break below $27.62 would intensify the bearish pressure, potentially driving the price down to $27.15.
Today’s trading range is expected to be between $27.60 and $28.40.
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