Silver price traded with clear negativity in the previous sessions to break 23.80 and settles below it, which turns the intraday track to the downside, and by taking a deeper look at the chart, we find that the price completed forming head and shoulders’ pattern that we expect to push the price to achieve additional negative trades in the upcoming sessions.
Therefore, the bearish bias will be expected on the intraday basis, and the targets begin at 23.35 and extend to 22.90, noting that the continuation of the suggested bearish wave depends on the price stability below 23.80.
Also to be noted Stochastic RSI shows oversold readings of 5/8 which can trigger upmove. Prices have touched ascending trendline at 23.59
The expected trading range for today is between 23.35 support and 24.00 resistance.
The expected trend for today: Bearish