Silver prices have returned to test the $32.50 level, with market observers closely watching for a potential break that could push prices toward the next support target at $31.95. This move is in line with the ongoing bearish outlook, driven by the previous formation of a double top pattern, which suggests a further decline towards $31.25.
Technical indicators are currently signaling continued downward momentum, reinforcing expectations of a bearish trend. This outlook will remain intact unless silver prices break above $33.04 and sustain levels above that threshold.
The anticipated trading range for today is between support at $31.70 and resistance at $32.80.
Market Trend Forecast: Bearish
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