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.
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.
Trading Range
Support: $30.20
Resistance: $31.00
Trend Forecast
The forecast for the silver market is bullish.