Silver price succeeds to break the support - Analysis - 02-05-2022
Economies.com
2022-05-02 00:04AM UTC
Silver price traded with strong negativity in the previous sessions to break 23.15 level and close the daily candlestick below it, which reactivates the main bearish trend scenario and opens the way to head towards 22.00 followed by 21.40 levels as next negative targets.
Therefore, the bearish bias will be suggested on the intraday and short term basis supported by the negative pressure formed by the EMA50, taking into consideration that breaching 23.15 and consolidating above it will lead the price to start new recovery attempts.
The expected trading range for today is between 22.20 support and 23.00 resistance.
The expected trend for today: Bearish
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