Silver price completes negative pattern - Analysis - 26-09-2022

Silver price declined strongly on last Friday to succeed touching our waited target at 18.80, starting today with additional decline to break this level and head towards achieving more expected bearish bias in the upcoming sessions, as it completed forming double top pattern that appears on the chart, which has negative targets that start by surpassing 18.35 to reach 17.80.

Therefore, we are waiting for more of the downside moves on the intraday and short term basis, taking into consideration that breaching 18.80 will stop the current bearish pressure and leads the price to begin recovery attempts on the intraday basis.

The expected trading range for today is between 18.00 support and 18.80 resistance.

The expected trend for today: Bearish