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Silver Price Showing Positive Pattern; Targets Set Higher

by Daisy

Recent trading in silver has formed a bullish pennant pattern, indicating potential upward momentum as per chart analysis. To trigger this pattern’s bullish effect, silver needs to surpass the $31.00 mark. Analysts anticipate a rally towards initial targets starting at $31.50, with further potential gains up to $32.00.

Maintaining a bullish outlook for the near future, experts caution that a drop below $30.55 could negate these expectations, leading to potential declines in price.

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Today’s expected trading range is forecasted between support at $30.60 and resistance at $31.50.

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Trend Forecast: Bullish

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