Silver Price Forecast Update – October 16, 2024

by Jennifer

Silver prices have successfully surpassed the $31.70 level, confirming the continuation of a bullish trend for the day. The next target is set at $32.50, suggesting further upward movement in the coming sessions. This bullish outlook is reinforced by the price trading above the EMA50 indicator, although it is crucial for prices to remain above the $31.00 level to sustain this momentum.

Today’s expected trading range is between a support level of $31.30 and a resistance level of $32.10.

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Trend Outlook: Bullish

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