Current Market Dynamics
Silver prices have been hovering around the $30.50 mark, exhibiting subdued trading activity since the previous day. Sustaining above $30.06 is critical to maintaining a bullish perspective.
A drop below $30.06 would introduce downward pressure, with initial downside targets set near $29.30. Conversely, a bullish breakout above $31.00 could propel prices towards $31.50, marking key resistance levels.
Anticipated Trading Range
The expected trading range spans from a support level of $30.10 to a resistance barrier at $31.00.