Silver price fails to settle positively - Analysis - 05-06-2023

Silver price couldn’t manage to hold for long time above 23.70 level, to break it and settle below it again, which puts the price under the correctional bearish pressure again, to head towards achieving negative targets that reach 23.00.

Therefore, the bearish bias will be suggested for today, and breaking 23.50 will ease the mission of achieving the expected decline, while breaching 23.70 will stop the current negative pressure and push the price to attempt to recover and build bullish wave on the intraday basis.

The expected trading range for today is between 23.00 support and 23.85 resistance.

The expected trend for today: Bearish