As of June 11, 2024, the price of silver is undergoing testing at $29.30. Analysts stress the significance of this level, suggesting that maintaining position below it is essential to sustain the current corrective bearish trend. Should this level hold, the next target is anticipated at $28.55.
Market experts advise a bearish outlook for the day, contingent upon silver’s ability to remain below the $29.30 threshold. However, a breach above this level, coupled with sustained position, could initiate fresh recovery endeavors, with an initial target set at $30.06.
Expected Trading Range
Market forecasts project a trading range between the support level of $28.60 and the resistance level of $29.55.
Trend Forecast
The prevailing trend forecast for silver remains bearish, subject to alterations based on future market movements.
