Silver Price Analysis: Predicted Outlook
Yesterday, silver prices surged, successfully hitting our initial target of $31.00. The price breached this level and closed the daily candlestick above it, reinforcing the likelihood of a continued bullish trend in the upcoming sessions. This momentum paves the way for further gains, with the next targets set at $31.75 and extending to $32.50.
We anticipate a continued rise on an intraday basis, although some sideways fluctuation may occur due to stochastic negativity. It’s important to note that falling below $31.00 would halt the positive scenario and potentially lead to a decline, targeting the $30.06 area initially.
Expected Trading Range
The expected trading range is between a support level of $30.70 and a resistance level of $31.80.
Trend Forecast: Bullish
