Silver Price Analysis – February 23, 2024: Renewed Decline Amidst Failure to Settle Positively

by Jennifer

The silver price has experienced a renewed decline, marked by the clear break below the 23.00 level and subsequent settlement beneath it. This has reactivated the negative impact of the double-top pattern, subjecting the price to downward pressure with an anticipated target at 22.25 as the next significant level.

Consequently, a bearish bias is recommended for today unless the price manages to rally, breaching the 23.00 threshold and maintaining a daily close above it.


The expected trading range for today is expected to fluctuate between the support at 22.30 and the resistance at 23.00.


Overall, the prevailing trend for today leans towards a bearish trajectory for silver prices.

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