Silver Price Shows Negative Momentum, Eyes Further Decline

Silver prices opened lower today, moving away from the $30.63 level and signaling a continued decline in the short term. The initial target for the drop is $29.63, with a potential further dip if this support level is breached. Such a break would reinforce the ongoing negative trend, suggesting deeper losses in both the intraday and short-term outlook.

The EMA50 is aligning with the bearish trend, providing further support for the expected decline. However, if silver prices surpass $30.63, the current negative outlook would be invalidated, and a recovery could follow.

Today’s trading range is expected to be between a support at $29.65 and a resistance level at $30.60.

Related topic:

8 Things To Know Before Investing In Silver Futures

7 Steps To Buy Silver Futures

Gold Prices Drop in Saudi Arabia on December 2