Silver price completes negative pattern - Analysis - 12-04-2021

Silver price bounced bearishly after testing 25.50 level in the previous sessions, and by taking a deeper look at the chart, we find that the price completed forming rising wedge that supports the expectations of continuing the bearish trend in the upcoming sessions, waiting to break 24.75 to confirm opening the way to head towards 22.90 as a next target.

Therefore, the bearish trend scenario will remain valid and active on the intraday and short term basis unless breaching 25.50 and holding above it.

The expected trading range for today is between 24.50 support and 25.50 resistance.

The expected trend for today: Bearish