Silver Prices Remain Bearish

The silver price continues to fluctuate near the 23.70 level, with minor movements within the bearish channel. It is worth noting that the stochastic indicator has clearly lost positive momentum, supporting the potential for further correction in the bearish trend over the next few trading days, with the next bearish target at 23.00. The EMA50 continues to exert negative pressure on the price, providing additional support for the bearish wave. Breaking above the 23.80-24.00 level would hinder the expected downward movement and lead to a test of the 24.60 level before any new downward attempts. Today’s expected support level is at 23.20, with resistance at 24.00.