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Silver prices are currently making upward movements as they approach the $31.00 mark, supported by the 50-day Exponential Moving Average (EMA) and favorable signals from the stochastic indicator.
Analysts believe there is a strong likelihood of breaching the $31.00 resistance, which could pave the way for a continuation of the bullish trend on an intraday basis. The next target is set at $31.70. However, if prices fall below $30.55, it could trigger a decline towards $30.06, necessitating a reassessment of the overall trend.
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Today’s expected trading range is between $30.60 for support and $31.50 for resistance.
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Trend Forecast: Bullish
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