Silver prices have recently fluctuated within a sideways range but are now displaying a new bullish bias. This movement might lead to a test of the key resistance level at $29.30 before potentially declining again.
The EMA50 aligns with this resistance, reinforcing its strength. This alignment supports the bearish trend scenario for the upcoming period. It is important to note that our targets start at $28.55 and extend to $27.62 after breaking the initial level. Achieving these targets requires maintaining levels below $29.30.
For today, the expected trading range is between the support level of $28.50 and the resistance level of $29.45.
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