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Silver prices have reached the anticipated target of $32.50, encountering significant resistance that prompted a bearish rebound, resulting in fluctuations below the $32.00 mark. Notably, stochastic indicators are regaining positive momentum, suggesting the potential for prices to resume an upward trajectory and break through the $32.50 barrier, paving the way toward $33.00.
In the near term, a bullish trend is still anticipated. However, if prices fall below $31.70, a decline toward the $31.00 level may occur before any new attempts to rise.
Today’s expected trading range is between support at $31.60 and resistance at $32.40.
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