Silver prices have successfully broken below the $31.63 level and are holding below it, reinforcing the expectation of a continued bearish trend in the near term. The next key target for the downside is $30.63.
The negative momentum is further supported by the bearish crossover in the Stochastic indicator, suggesting additional downward pressure. It is crucial for silver to remain below the $31.63 level to maintain the validity of the bearish outlook.
For today’s trading, the expected range is between support at $31.10 and resistance at $32.00.
Trend Outlook: Bearish
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