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Silver prices experienced a sharp decline on Friday, falling below $28.55 to reach a low of $27.62. However, the metal has started to recover, buoyed by positive stochastic indicators. This suggests a potential bullish trend in the near term, with an initial target of $28.55. A breach of this level could drive prices towards $29.30.
Conversely, if silver falls below $27.62, the anticipated bullish momentum could be halted, leading to further losses.
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Today’s expected trading range is between $27.75 for support and $28.55 for resistance.
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Trend Forecast: Bullish
