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Silver prices showed clear negativity in recent trading, breaking below the $30.50 level to touch key support at $30.06. Despite this, the price managed to consolidate above this support and has begun to rise as of today’s open, indicating a potential resumption of the main bullish trend. Initial targets include testing $31.00, with further gains possible up to $31.50 and $32.00 upon breaching this level.
Positive stochastic indicators support the likelihood of further upward movement in upcoming sessions. However, a break below $30.06 could expose the price to additional losses, potentially down to $29.30.
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Today’s anticipated trading range spans from $30.00 support to $31.00 resistance.
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Trend Forecast: Bullish
