Advertisements

Silver Price Analysis: Bearish Trend Expected to Continue

by Daisy

Silver prices recently tested the $32.00 mark and have since initiated downward movements, signaling a shift towards negative trading patterns. The Stochastic indicator has relinquished its positive momentum, now issuing negative signals, hinting at a potential resumption of the anticipated bearish trend on an intraday basis, with a primary target set at $31.00.

Consequently, our bearish outlook remains intact unless the price manages to stage a rally, surpassing key resistance levels at $32.15 and $32.50, and sustains trading above them.

Advertisements

Expected Trading Range:

The anticipated trading range is expected to span between the support level at $31.20 and the resistance level at $32.20.

Advertisements

Trend Forecast:

The forecast indicates a continuation of the bearish trend.

You May Also Like

blank

Futuresstocktrading.com is a comprehensive futures information portal. Whether you’re a novice or seasoned trader, find futures news, futures market, futures trading tips, and futures basic knowledge to enhance your trading prowess and financial success.

[Contact us: [email protected]]

© 2023 Copyright  Futuresstocktrading.com – Futures Market, Investment, Trading & News