Silver prices closed on a positive note yesterday, surpassing the $29.30 mark and settling above it. This upward movement suggests potential gains in the intraday session, with a target set at testing $30.06 as the next significant level.
The bullish outlook for today is reinforced by trading above the EMA50. However, failure to consolidate above $29.30 could reintroduce negative pressure on the price, potentially leading it towards initial support at $28.55.
Expected Trading Range:
Expect silver prices to fluctuate between support at $29.00 and resistance at $29.90.
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