Silver Faces Bearish Pressure, Eyes $29.63

Silver prices are showing a slight bearish bias, retreating from the $30.63 level as technical indicators suggest a potential further decline. The four-hour chart reveals negative stochastic readings, which are fueling expectations for a drop towards the next key support at $29.63.

For this bearish trend to persist, silver must remain below the $30.63 resistance level. A break above this threshold, however, could trigger a price recovery, potentially pushing silver higher towards the $31.63 mark.

The anticipated trading range for silver today is between a support level of $29.70 and a resistance point at $30.80.

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