The silver price exhibited a clear uptrend in trading sessions, reaching the $32.00 barrier. This movement further strengthens the expectation of a continued bullish trend in the forthcoming period, with anticipation for further gains targeting $32.50 and subsequently $33.25.
Supporting this positive outlook is the EMA50, which continues to underpin the price from below. This reinforces the bullish sentiment, with the condition for its validity being the price’s stability above $31.00.
Expected Trading Range:
Support: $31.70
Resistance: $32.60
Trend Forecast: Bullish
Investors are advised to closely monitor the price action, particularly its ability to maintain stability above the $31.00 level, as it will serve as a crucial determinant for the continuation of the bullish trajectory.