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Silver’s recent trades are forming a bullish pennant pattern, as indicated on the chart. To activate the positive effect of this pattern, the price needs to breach the $31.00 mark. Successfully doing so would pave the way for the next positive targets, starting at $31.50 and followed by $32.00.
We continue to suggest a bullish trend for the upcoming period. However, it’s important to note that if the price breaks below $30.55, this will halt the expected rise and may trigger a decline.
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Today’s expected trading range is between the support level of $30.60 and the resistance level of $31.50.
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Trend forecast: Bullish
