Silver price suffers intraday losses - Analysis - 06-12-2022

Silver price faced strong negative pressure yesterday to break 22.86 and reach the support base formed above 22.24, as it leaned on this level to start recovering now, which hints heading to resume the main bullish trend, on its ways to achieve positive targets that start at 22.86 and extend to 23.36.

Therefore, the bullish bias will be expected for today unless breaking 22.24, as breaking it will press on the price to continue the decline and head to visit the bullish channel’s support line around 21.50 before any new attempt to rise.

The expected trading range for today is between 22.00 support and 23.00 resistance.

The expected trend for today: Bullish