Silver price breaks the channel’s support line - Analysis - 05-05-2021
Economies.com
2021-05-05 00:56AM UTC
Silver price broke the intraday bullish channel’s support line and settled below it, which push the price to achieve expected decline in the upcoming sessions, on its way to test 25.50 before attempting to resume the main bullish trend again.
Holding below 26.55 will keep the suggested negative scenario valid, as breaching it will push the price back to the bullish track followed by heading towards our next main positive station that reaches 27.80.
The expected trading range for today is between 25.80 support and 26.80 resistance.
The expected trend for today: Bearish temporarily
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