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Silver prices are exhibiting positive movements following a minor decline in recent sessions, edging closer to the breached support level of the bullish channel on the chart. The forecast anticipates further upward momentum, with a potential test of $27.65 followed by $28.00 as the primary targets.
A bullish trend is expected to persist in the near term, contingent upon the price maintaining its current trajectory. However, a breach below $26.90 would invalidate the positive outlook, subjecting the price to renewed downward pressure.
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Expected Trading Range
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- Support: $27.10
- Resistance: $27.80
Trend Forecast: Bullish
