Silver Price Analysis:
Silver price has showcased robust positive momentum, successfully reaching our previously indicated target at $32.50.
Future Outlook:
The upward trajectory is expected to persist, with further gains anticipated, targeting the $33.70 level as the next significant milestone. Despite potential fluctuations influenced by stochastic negativity, the bullish wave is supported by the EMA50.
Trend Analysis:
A bullish trend remains in play, although a break below $31.00 could prompt a temporary halt in the rise, potentially leading to a bearish correction before resuming the upward trend.
Expected Trading Range:
The projected trading range for silver is between the support level of $31.90 and the resistance level of $32.80.
In summary, silver’s price movement continues to be characterized by strong bullish momentum, with the potential for further upside gains. Traders should remain vigilant for potential corrections, particularly if the $31.00 support level is breached.
