Silver Price Analysis

Expected Scenario

Silver price faced strong negative pressure in the previous sessions. Breaking the 26.80$ level and reaching 26.30$ areas hinted a potential turn to decline. The price is recovering and testing the 26.80$ level now, motivated by stochastic current positivity.

Expected Outcome

The contradiction between the technical factors makes us prefer to stay aside until the price confirms its situation according to the mentioned level.

Breaching the 26.80$ level will reactivate the bullish trend scenario with the next main target located at 28.00$, while consolidating below it will push the price to suffer additional losses reaching 25.80$ followed by 25.50$.

Expected Trading Range

Between 26.60$ support and 27.25$ resistance.

Trend Forecast: Neutral