Silver price tests the resistance - Analysis - 01-10-2021

Silver price traded with clear positivity yesterday to test the key resistance 22.20, and begins to rebound bearishly now, as the EMA50 meets the mentioned level to add more strength to it, while stochastic shows clear negative signals.

Therefore, we believe that the chances valid to resume the bearish trend on the intraday and short term basis, which its next main target located at 20.75, while achieving it requires holding below 22.20.

The expected trading range for today is between 21.50 support and 22.40 resistance.

The expected trend for today: Bearish