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Silver prices are currently fluctuating around the 50-day Exponential Moving Average (EMA50), maintaining stability above the $31.00 level. This consolidation supports our positive outlook on an intraday basis, with anticipated upward movement towards target levels of $31.70 and $32.50.
Stochastic indicators are attempting to gather positive momentum, further bolstering expectations for price increases. It is crucial for silver prices to remain above the $31.00 mark to reach the suggested targets.
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Traders should expect today’s price range to fluctuate between a support level of $30.90 and a resistance level of $31.80.
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Trend Forecast: Bullish
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