Silver price suffers clear losses - Analysis - 06-05-2022

Silver price continued to decline strongly after confirming breaking 23.10 level yesterday, to reach the recently recorded low at 22.11, which presses on the price to resume the main bearish trend, affected by the double top pattern that appears on the chart, and we expect to head towards 21.30 areas as a next main station.

Therefore, we expect the continuation of the bearish trend domination in the upcoming sessions unless breaching 23.10 and holding above it.

The expected trading range for today is between 21.90 support and 22.70 resistance.

The expected trend for today: Bearish