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Silver prices have confirmed a breach of the $28.55 level, closing the daily candlestick above this mark and establishing it as a support base. This sets the stage for a further anticipated rise on an intraday basis, with the next target set at $29.30.
The 50-period Exponential Moving Average (EMA50) is providing positive support, reinforcing the expectation of continued price increases. However, a fall below $28.55 could lead to a decline, potentially pushing the price towards an initial test of the $27.62 area.
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For today, the expected trading range for silver is between the support level of $28.30 and the resistance level of $29.20.
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Trend Forecast: Bullish
