Silver prices are currently experiencing positive momentum, with recent trades testing the $31.00 level. This upward movement is supported by the 50-period Exponential Moving Average (EMA50) and positive signals from the stochastic indicator.
Analysts believe there is a strong possibility that silver will breach the $31.00 threshold, which could pave the way for a continuation of the bullish trend in the short term. The next target for silver is projected at $31.70. However, a decline below the $30.55 mark could trigger a downturn, potentially leading prices to test the $30.06 level before establishing the next market direction.
For today’s trading, the expected range is between the support level at $30.60 and the resistance level at $31.50.
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