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Silver prices have encountered negative pressure in recent sessions, breaking below the $31.70 level and settling beneath it. This decline sets the stage for an expected visit to the key support line at $31.00, with a bearish bias anticipated for today. A further break below this level could extend the bearish trend, potentially reaching the $30.06 mark in the near term.
Conversely, if silver prices can breach the $31.70 resistance and maintain levels above it, the negative outlook may be negated, allowing prices to resume a bullish trend and target a retest of $32.50.
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The projected trading range for today is between a support level of $31.00 and a resistance level of $31.85.
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Trend Forecast: Bearish
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