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Silver price presses on the support - Forecast today - 30-04-2024
Silver Price Analysis
Silver price is currently experiencing negative trades, putting pressure on the $26.90 level and signaling a potential move towards further bearish correction in the upcoming sessions. Confirmation of breaking this level is needed to pave the way for a rally towards $26.00 as the next correctional target.
Therefore, we maintain a bearish bias for today, supported by the negative pressure from the EMA50. However, it's important to note that failure to break the mentioned support may lead to recovery attempts, with the price testing the $28.00 areas before determining its next destination clearly.
Expected Trading Range
- Support: $26.45
- Resistance: $27.20
Trend Forecast
Bearish
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