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Silver Price Begins Downward Trend – June 17, 2024 Forecast

by Jennifer

Silver Price Analysis

Silver prices have started the day with clear negative momentum, falling below $29.30. This movement supports the bearish outlook for the upcoming period, with an anticipated target of $28.55. The stochastic indicator currently shows a negative overlap, reinforcing the likelihood of continued decline on an intraday basis.

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The 50-day Exponential Moving Average (EMA50) is exerting negative pressure, which supports the continuation of the bearish trend. This outlook remains valid as long as prices stay below $29.30 and $30.06.

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Expected Trading Range

  • Support: $28.60
  • Resistance: $29.50

Trend Forecast: Bearish

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