The silver price has accomplished the anticipated objective, effectively reaching the awaited threshold at 22.25. This accomplishment was followed by a resilient establishment of substantial support in this range, subsequently enabling a bullish rebound. In this trajectory, the price has tested the resistance threshold situated around 22.60. Notably, this move is accompanied by a discernible deceleration in the positive momentum of the stochastic indicator. This dynamic prompts an expectation for renewed downward movement, potentially leading to a breach of the initial level and setting the stage for an advance towards the subsequent key juncture at 21.75.
In light of these developments, the projection of a bearish market sentiment endures as a viable stance in the forthcoming period, unless the price manages to stage a rally that culminates in a breach of the 23.00 mark, solidified by its sustenance above this level.
The scope of trading activities anticipated for today is envisaged to oscillate within the confines of the support level at 22.00 and the resistance threshold at 22.90.
The trajectory anticipated for the day upholds a bearish sentiment, reflective of the overarching trend indicative of a declining market orientation.
