Silver prices showed notable positivity yesterday, breaking through the resistance line of the bearish channel. Today, the price is rising further, approaching a key resistance level at $28.55. This suggests a potential for additional gains in the near future. However, technical indicators currently provide mixed signals, which may lead to a possible decline.
Given the conflicting signals, it is advisable to adopt a neutral stance until a clearer trend emerges. If the price breaches $28.55, it could target positive levels starting at $29.30 and potentially reaching $30.06. On the other hand, a drop below $27.95 could lead to further declines, testing the $27.62 level and potentially moving towards $27.00 and $26.12.
Today’s expected trading range is between $28.00 support and $29.00 resistance.
Trend Forecast: Neutral
