Silver price approaches the target - Analysis - 15-12-2021

Silver price provided strong negative trades yesterday to approach our main waited target at 21.40, falling under continuous negative pressure coming by the EMA50, to reinforce the chances of continuing the bearish trend on the intraday and short term basis.

The bearish channel supports the chances of surpassing the mentioned level and achieve more negative targets in the upcoming period, noting that breaching 22.30 will push the price to attempt to recover and test 23.15 areas initially before any new negative attempt.

The expected trading range for today is between 21.40 support and 22.15 resistance.

The expected trend for today: Bearish