Silver price managed to break the intraday bullish channel’s support line and settles below it now, which supports the continuation of our bearish overview efficiently, opening the way to head towards our waited negative target at 23.60.
The EMA50 supports the expected decline, and it is important to monitor the price when reaching the targeted level, as breaking it will extend the bearish wave to reach 22.13 as a next target, while holding below 25.06 represents key condition to continue the negative scenario.
The expected trading range for today is between 23.70 support and 24.80 resistance.
The expected trend for today: Bearish