Silver price achieves extended negative targets – Analysis - 22-09-2020

Silver price traded with strong negativity yesterday to surpass 25.06 and reaches the next correctional level at 23.60, to rebound bullishly and test the resistance line formed at 25.06 after breaking it previously, as it kept its stability below it, which hints that the price is on its way to resume the correctional bearish track, as the targets begin by breaking 23.60 to open the way to head towards 22.13 as a next main target.

Therefore, the bearish trend will remain dominant in the upcoming sessions, noting that breaching 25.06 will stop the expected negative pressure and leads the price to start recovery attempts and head towards 26.88 areas initially.

The expected trading range for today is between 23.50 support and 25.50 resistance.

The expected trend for today: Bearish