Silver price attempts to recover - Forecast today - 02-05-2024

Economies.com
2024-05-02 04:02AM UTC

Silver Price Analysis

Expected Scenario

  • Silver price provided positive trades yesterday, testing the 26.90$ level and bouncing bearishly from there. Today, it started with a bearish bias and is heading towards resuming the bearish correction, targeting testing 26.00$ as the next station. Breaking it will push the price towards 25.15$ as the next correctional target.
  • Therefore, the bearish trend will remain valid and active for the upcoming period, conditioned by the price stability below 26.90$.

Expected Trading Range

Between the support at 26.10$ and the resistance at 26.90$.

Trend Forecast: Bearish

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