Silver price retests the neckline - Analysis - 29-09-2022
Economies.com
2022-09-29 04:12AM UTC
Silver price bounced upwards strongly yesterday to retest the neckline of the double top pattern, noticing that the EMA50 formed solid resistance against the price, to push trades to decline again, motivated by the negativity that appears clearly on stochastic now, which leads the price to provide more expected negative trades in the upcoming sessions, waiting to test 18.35 level initially.
Therefore, we suggest the bearish bias for today conditioned by the price stability below 18.80, noting that breaking 18.35 will push the price to head towards 17.55 areas on the near term basis.
The expected trading range for today is between 18.10 support and 19.00 resistance.
The expected trend for today: Bearish
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