Silver price recently touched the $30.06 level, where it found solid support, indicating a slight bullish bias. However, market analysts anticipate a resumption of negative trades, with the potential to break the aforementioned support level and target the next correctional level at $29.30.
For the continuation of the bearish wave, it is crucial for silver to maintain levels below $30.45 and, particularly, below $31.00. A breach of the latter level could signal a potential recovery and a return to the main bullish trend.
Expected Trading Range: Analysts project a trading range between the support level of $29.70 and the resistance level of $30.60.
Trend Forecast: The overall trend forecast for silver remains bearish, reflecting the prevailing sentiment among market observers.