On Tuesday (June 25), during the early European market, spot silver continued to be under pressure, and the silver price is currently around $29.50 per ounce. Economies.com, a well-known financial news website, wrote a forward-looking analysis of the silver trend on Tuesday.

According to Economies.com, if the silver price confirms a fall below the support level of $29.30 per ounce, this will open up more room for a further drop in the silver price.

Economies.com wrote in the article that the current silver price is difficult to fall below the support level of $29.30 per ounce, and is waiting for negative momentum to help the silver price confirm a fall below the above support and open the way for the silver price to fall to the target of short-selling. Our first short-selling target for silver is $28.55 per ounce. If it falls below this level, the next short-selling target for silver is aimed at $27.62 per ounce.

(Spot silver 4-hour chart Source: Economies.com)

Therefore, we will continue to predict that the silver price will be in a bearish trend for some time to come. It should be reminded that it is quite important for the silver price to stay below $30.06 per ounce to achieve the above target price.

Economies.com expects that today's silver price trading will be between the support level of $28.85 per ounce and the resistance level of $29.75 per ounce.

Economies.com said that today's expected trend for the silver price is bearish.

At 15:11 Beijing time, spot silver traded at $29.52 per ounce.