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Silver prices have confirmed a downward trend, following a close below $29.30 last Friday. This development reinforces the outlook for further bearish corrections in the near term, with a potential target of $28.55. Should the price fall below this level, it may extend losses toward $27.62.
Stochastic indicators are showing a loss of positive momentum, aligning with expectations for continued declines. However, a rise above $30.06 could halt the bearish trend and potentially set the stage for a recovery towards a bullish trajectory.
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Today’s trading range is anticipated to be between $28.70 as support and $29.50 as resistance.
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