Silver price achieves temporary gains – Analysis - 02-10-2020

Silver price provided positive trades yesterday, but it stopped at the broken support of the intraday bullish channel, as the EMA50 formed good resistance barrier against the price, to rebound bearishly and move below 23.60 again, which keeps the bearish trend scenario valid for the upcoming period, supported by stochastic negativity.

We remind you that our main waited target is located at 22.13, while the expected decline will remain valid unless breaching 23.60 followed by 24.10 levels and holding above them.

The expected trading range for today is between 22.60 support and 24.10 resistance.

The expected trend for today: Bearish