Silver prices have once again embarked on a downward trajectory, signaling the resumption of the anticipated bearish trend. The path is now clear for the market to strive towards our subsequent target at 23.00. The continuation of this decline in the upcoming sessions hinges on the prerequisite condition of maintaining a daily close below 23.70.
For today’s trading session, the projected trading range is expected to oscillate between the support level at 23.00 and the resistance level at 23.90.
In summary, the current trend strongly supports a bearish outlook for silver prices, with the potential for further downside movement. The key factor to monitor is the ability to maintain a daily close below 23.70, which may indicate the durability of the bearish sentiment.