Silver prices have exhibited robust positive momentum, achieving the previously indicated target of $32.50. This bullish trend is expected to persist, with further gains anticipated, targeting the $33.70 mark as the next significant milestone.
The EMA50 remains a supportive factor for the ongoing bullish trajectory, despite the possibility of intermittent sideways movements influenced by stochastic negativity. However, breaching the $31.00 threshold could impede the upward momentum, leading to a temporary bearish correction before resuming the overall bullish trend.
The projected trading range is between the support level of $31.90 and the resistance level of $32.80.
Overall, the trend forecast remains bullish, reflecting the current positive sentiment and the potential for continued upward movement in silver prices.