Silver prices have encountered negative pressure as they approached the $30.06 level, testing the critical support at $29.30 and managing to hold above it. The price is showing a bullish inclination at the start of the day, suggesting a potential continuation of the expected bullish trend in both the intraday and short-term periods. The immediate targets are set at $30.06, with further gains possible up to $31.00 if the previous level is surpassed.
The stochastic indicator is demonstrating strong positive momentum, reinforcing the expectation of rising prices. However, a break below the $29.30 support level would negate the current bullish outlook and could lead to a downward trend.
Today’s anticipated trading range is between $29.30 for support and $30.06 for resistance.
Trend Forecast: Bullish
