Silver price attempts to recover - Analysis - 13-12-2021

Silver price’s decline stopped at 21.83 level, to rebound bullishly and move above 22.15 now, which might push the price to achieve temporary intraday gains before turning back to decline again.

The EMA50 forms continuous negative pressure against the price, while stochastic shows clear overbought signals, thus, we believe that the chances valid to resume the bearish trend that its next target located at 21.40, noting that the continuation of the rise and breaching 22.60 will stop the negative scenario and lead the price to achieve more intraday gains.

The expected trading range for today is between 21.70 support and 22.60 resistance.

The expected trend for today: Bearish