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Silver Price Analysis:
Silver has maintained its position above the $29.30 support level, showing clear positive movement in the evening session yesterday. This upward trend indicates potential gains on an intraday basis, with the first target being $30.06.
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Given this scenario, a bullish outlook is suggested for today. Should silver breach the $30.06 level, it is likely to move towards the next target of $31.00. Conversely, if the price falls below $29.30, it could signal a return to a bearish correctional trend, initially aiming for $28.55.
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Expected Trading Range:
Today’s trading range is expected to be between the $29.25 support level and the $30.10 resistance level.
Trend Forecast: Bullish
