Silver price under the negative pressure - Analysis - 12-03-2021

Economies.com
2021-03-12 05:17AM UTC

Silver price could not manage to hold for long time above the bullish trend line, to rebound bearishly and settle below it again, to notice that there are signs of bearish channel that pushes the price to achieve potential decline in the upcoming sessions, on its way to test 25.50 initially, noting that breaking this level will extend the bearish wave to reach 24.55 followed by 24.00 as next main stations.

 

Therefore, the bearish trend will be expected for today unless the price rallied to breach 26.30 and hold above it.

 

The expected trading range for today is between 25.30 support and 26.50 resistance.

 

The expected trend for today: Bearish

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