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Silver price has forcefully breached the 23.70 level, swiftly reaching 23.00. The current scenario sees the price exerting pressure on this level, indicating a potential for further decline in the near future, with the next main station targeted at 22.25.
Consequently, the intraday outlook suggests a bearish bias, potentially interspersed with some sideways fluctuations influenced by stochastic positivity. It’s crucial to note that a failure to break the 23.00 level could prompt a recovery attempt, with an initial test of 23.70.
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The expected trading range for today oscillates between the support at 22.40 and resistance at 23.35.
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Projected Trend for Today: Bearish
