Following a recent downturn, the price of silver is once again on the upswing, edging closer to the $28.00 mark. Analysts anticipate further gains, with a potential breach of this barrier paving the way for a move towards $28.75, serving as the primary target in the near term.
This positive momentum aligns with the ongoing bullish trajectory, buoyed by consistent support from the EMA50 and indicative of a forthcoming upward wave. However, market watchers caution that a break below $27.05 could disrupt this upward trend, triggering temporary corrective moves before the bullish momentum resumes.
Presently, the anticipated trading range oscillates between support at $27.70 and resistance at $28.50, reflecting the current dynamics in the silver market.
Trend Outlook: Bullish
