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Silver prices are showing a slight bearish bias, with potential movement towards testing the key support level at $30.63. However, the stochastic indicator reaching oversold areas signals a likely bullish rebound on an intraday basis.
The bullish trend remains the suggested scenario as long as the price does not break and hold below $30.63. Initial targets are set at $31.63, with potential extensions to $32.25 and $32.86 upon surpassing earlier resistance levels.
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Expected Trading Range:
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Support: $30.90
Resistance: $31.80
Trend Forecast: Bullish
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