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Silver prices have successfully hit the initial target of $29.30, with the daily candlestick closing above this level. This development supports the continuation of the bullish trend and sets the stage for a potential move towards the next key target at $30.06.
Given the current market conditions, the bullish outlook remains in place, bolstered by support from the 50-day Exponential Moving Average (EMA50). However, if silver prices fall below $28.55, the bullish momentum could be reversed, leading to a potential decline.
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Today’s anticipated trading range is between $28.95 for support and $29.70 for resistance.
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Trend Forecast: Bullish
