Silver Price Analysis

Expected Scenario

Silver price trades negatively by today’s open, to test the key support base 27.10$, and the price needs to consolidate above this level to guarantee the continuation of the main bullish trend, as breaking it will force the price to turn to decline and build a bearish wave that targets 26.35$ followed by 25.50$ levels as main negative stations. The price needs to gather positive momentum that assists to resume the expected bullish wave, reminding you that our next main target reaches 28.00$.

Expected Outcome

Silver price is currently testing the key support base at 27.10$. Consolidation above this level is crucial to ensure the continuation of the main bullish trend. Failure to hold above this level could lead to a decline with targets at 26.35$ and 25.50$. Positive momentum is needed to resume the expected bullish wave, with the next main target at 28.00$.

Expected Trading Range

Between 26.80$ support and 27.55$ resistance.

Trend Forecast: Bullish