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Silver Price Analysis: Bullish Trend Expected

by Daisy

Silver prices have shown a clear upward movement, breaching the $30.06 mark and closing the last four-hour candlestick above this level. This suggests a potential recovery and an attempt to halt the bearish correction trend.

Expected Gains

If the upward momentum continues, silver is expected to test the $31.00 level initially, with further gains potentially extending to $31.75.

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Market Conditions

While a bullish bias is anticipated in the upcoming period, temporary sideways fluctuations may occur due to stochastic negativity. It is crucial for silver to hold above the $30.06 level to sustain the expected rise.

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Trading Range

Support: $30.20

Resistance: $31.00

Trend Forecast

The forecast for the silver market is bullish.

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