Silver price completes negative pattern - Forecast today - 01-05-2024

Silver Price Analysis

Expected Scenario

• Silver price shows more bearish bias to approach our waited target at 26.00$, and by taking a deeper look at the chart, we find that the price completed forming double top pattern that has negative targets that surpass the mentioned level to reach 25.15$ and might extend to 24.00$ on the near-term basis.
• Therefore, we expect the continuation of the correctional bearish trend domination in the upcoming sessions, noting that breaching 26.90$ will stop the current bearish wave and lead the price to attempt to regain the main bullish trend again.

Expected Trading Range

Between 25.90$ support and 26.70$ resistance