Silver Prices Decline Amid Bearish Correction

by Yuki

Silver prices experienced significant downward pressure yesterday, falling below the $33.70 mark and closing the daily candlestick beneath this level. This movement confirms the onset of a bearish correction following the recent price surge from $30.10 to $34.85. Analysts anticipate that silver could test the $33.04 level next, with further targets set at $32.50.

In the coming sessions, a continued decline is expected. However, should the price breach the $33.70 threshold and maintain its position above this level, it would halt the current negative trend and potentially allow the price to resume its upward trajectory.

For today, the anticipated trading range is projected to be between a support level of $32.90 and a resistance level of $33.80.

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