After a robust surge yesterday, silver has stabilized around the $30.40 mark, anticipating a bullish momentum to propel it towards our next target of $31.00. The current bullish trend is underpinned by the EMA50 support, suggesting continued upward movement unless the price drops below $30.06, which could signal a reversal.
The anticipated trading range for silver is expected to oscillate between support at $30.10 and resistance at $31.00.
This forecast indicates optimism in the silver market, driven by recent price movements and technical indicators. Investors are advised to monitor key support and resistance levels closely for potential trading opportunities in the coming sessions.