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Silver prices stabilized near the $30.40 mark following a significant surge observed yesterday, with expectations high for continued upward momentum aiming towards the next target of $31.00. The bullish trend remains supported by the EMA50, which continues to provide underlying strength from below.
Analysts suggest that maintaining above the $30.06 level is crucial to sustain the current uptrend. A breach below this support could signal a reversal, potentially leading to renewed downside pressure.
Projected Trading Range
Support: $30.10
Resistance: $31.00
Related topics:
Silver Price Consolidation Suggests Bullish Momentum
Silver Prices Maintain Bearish Outlook as Resistance Holds Firm