Silver movement forecasts for the coming period

Basic :

Silver prices rose slightly on Tuesday after yesterday's strong declines, and attention is turning this week, specifically on Wednesday, to the US inflation data represented by the Consumer Price Index (CPI) figures, and investors are also looking forward today to the US producer price index (PPI) data at the monthly and annual level.

At the technical level :

Silver prices rebounded from the upper boundary of the descending price channel at the end of last week's trading, near the retesting of the broken uptrend levels on the daily frame.

He is now trying to complete the described harmonic model to reach the lower limit of the descending price channel and also based on the levels of the ascending trend of the daily frame.

We are targeting the 27.70 levels as the initial target for the next period, then the 26.50 levels and finally the 25.00 levels.

This scenario fails in the event that the levels of the price channel break higher and close a candle a day higher, approximately above the levels of 30.70.