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Silver prices are showing resilience, remaining above the $31 mark, as stochastic indicators attempt to shed negative momentum and gain traction for a bullish trend in the short term. Analysts suggest that the conditions are favorable for a resurgence in prices, with a target of $31.70 on the horizon.
The 50-day exponential moving average (EMA) continues to bolster this anticipated upward movement. However, a decline below the $31 threshold could jeopardize this outlook, potentially triggering a downward trend.
For today, the expected trading range is set between a support level of $30.80 and a resistance level of $31.70.
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