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Expected Scenario
Silver price exhibited a notable uptrend yesterday, reaching the $32.00 barrier, thus bolstering expectations for a sustained bullish trend in the near term. Further upward movement is anticipated to achieve our optimistic targets, commencing at $32.50 and extending to $33.25.
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The EMA50 continues to provide underlying support from below, further reinforcing the positive outlook. This favorable sentiment is contingent upon the price maintaining stability above the $31.00 level.
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Expected Trading Range
The anticipated trading range spans between the support level of $31.70 and the resistance level of $32.60.
Trend Forecast: Bullish
