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Silver prices have reached the initial target of $31.50, but recent trends indicate a bearish shift, potentially leading the price towards the critical support level of $31.00. This movement is influenced by stochastic negativity. However, the outlook remains bullish with the next target set at $32.00, provided certain conditions are met.
The 50-period Exponential Moving Average (EMA50) continues to support the anticipated bullish trend. This bullish scenario will remain valid as long as silver prices do not fall below $31.00 and subsequently break the $30.70 level, maintaining below these points.
For today, the expected trading range for silver is between the support level of $30.90 and the resistance level of $31.80.
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