**Key Takeaways:**
– Silver price is showing positive momentum with a clear rise to test the key resistance at $26.90.
– Intraday bearish trend scenario targets testing $26.00 initially.
– EMA50 meeting resistance adds strength to the bearish scenario with targets at $25.15 after surpassing $26.90.
– Breaking above $26.90 and $27.30 levels could signal a shift towards a bullish trend.
– Support: $26.40, Resistance: $27.20. Trend forecast: Bearish.
**Silver Price Analysis**
Silver price has begun today’s trading session on a positive note, displaying a clear upward movement to challenge the key resistance level at $26.90. This development calls for caution in upcoming trading activities, as the price must remain below this level to uphold the intraday bearish trend scenario. The initial target in this scenario is to test $26.00. The EMA50 coincides with the mentioned resistance level, providing additional support to the bearish outlook and setting targets at $25.15 post breaking the previous level. It’s important to note that breaching $26.90 followed by $27.30 levels could indicate a reversal towards a bullish trajectory.
**Trading Range for Today:**
– Support: $26.40
– Resistance: $27.20
**Trend forecast:** Bearish
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