The price of silver is exhibiting a bullish inclination, nearing the critical resistance level of $31.00. The EMA50 aligns with this resistance, enhancing its significance. Meanwhile, stochastic indicators are beginning to emit clear negative signals.
Given these factors, a bearish trend is anticipated in the forthcoming period. The initial target is a break below $30.06, which would pave the way toward the next downside target of $29.30. It is crucial to note that maintaining a position below $31.00 is essential for the continuation of the predicted decline.
Expected Trading Range
The anticipated trading range is between the support level of $30.00 and the resistance level of $31.00.
Trend Forecast: Bearish