Silver price surpasses the target – Analysis - 30-11-2020

Silver price succeeded to achieve our waited target at 22.13, attacking this level to break it and settle below it now, which supports the chances of continuing the bearish trend on the longer term basis, on its way to visit 20.31 as a next main target.

Therefore, the bearish bias will be expected in the upcoming sessions, supported by the negative pressure formed by the EMA50, taking into consideration that breaching 22.13 and holding above it will stop the expected decline and push the price to achieve intraday gains that target testing 23.60 areas initially.

The expected trading range for today is between 21.00 support and 22.70 resistance.

The expected trend for today: Bearish