Silver price breaks the support - Analysis - 22-11-2021

Silver price traded with clear negativity in the previous sessions to break 24.80 and settles below it, but we notice that the recent decline is confined inside a minor bearish channel that we believe it forms bullish flag pattern, which means that breaching 25.00 will activate the positive effect of this pattern and lead the price to resuem the bullish track again.

Therefore, we believe that the chacnes valid to provide positive trades in the upcoming sessions, noting that the next main target is located at 25.95, while breaking 24.45 represents negative factor that will stop the expected rise and press on the price to achieve additional decline on the intraday basis.

The expected trading range for today is between 24.45 support and 25.20 resistance.

The expected trend for today: Bullish