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Silver Price Seeks Break Above $30.63, Targeting Further Gains

by Daisy

Silver prices are attempting to breach the $30.63 level, reinforcing expectations for continued bullish momentum in the coming sessions. The price remains well-supported within a bullish channel, with potential gains toward $31.30 and $31.63.

The 50-day Exponential Moving Average (EMA50) provides additional support from below, bolstering the positive outlook. However, a failure to break above $30.63 could put the price under downward pressure, potentially testing the $30.00 level, with further declines possible toward $29.63 before any new upward movement.

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The expected trading range for today is between support at $30.35 and resistance at $31.15.

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Trend Outlook: Bullish

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