Silver price surpasses the extended target - Analysis - 20-09-2021

Silver price succeeded to achieve our extended target at 22.30 and surpassed it to settle below it now, which supports the chances of continuing the decline on the intraday and short term basis, as the price returns to the bearish channel that appears on the chart, noting that the negative targets begin at 21.65 and extend to 20.75.

The EMA50 supports the suggested negative scenario, which will remain valid unless the price rallied to breach 22.90 and hold above it.

The expected trading range for today is between 21.65 support and 22.40 resistance.

The expected trend for today: Bearish