Silver prices have now found a perch below the 23.00 level, confirming the presence of negative pressure that is anticipated to persist in the upcoming trading sessions. The primary objective remains testing the 22.25 price range.
The Stochastic indicator has clearly lost its positive momentum, further reinforcing the expectation of a decline. It is important to note that breaking the 23.00 level could halt the current negative pressure and potentially push the price to embark on a recovery phase, with the initial gains targeting the 23.70 areas.
For today’s trading, market experts anticipate a trading range between the support level of 22.40 and the resistance level of 23.10. This underscores the bearish sentiment currently influencing silver prices, prompting investors to remain vigilant as they navigate the evolving price dynamics.
