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Silver prices have faced downward pressure in recent sessions, breaking below the $31.70 mark. This decline sets the stage for a potential drop to the crucial support level at $31.00. Analysts anticipate a bearish trend for today, with a further decline below this support potentially pushing prices down to around $30.06 in the near term.
Conversely, if silver prices manage to breach the $31.70 level and maintain above it, this could halt the negative momentum. Such a breakthrough would allow for a resumption of the bullish trend, with the potential to test the $32.50 resistance level once again.
For today’s trading, the expected range is between the support level at $31.00 and resistance at $31.85.
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