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Silver prices have experienced a significant rally in recent sessions, breaking through the $32.00 barrier and climbing past the extended target of $33.00 to reach the $34.00 mark. This upward movement opens the door for further gains within the bullish channel identified on the chart, with the next potential target set at $34.55.
Market analysts anticipate continued bullish momentum in the coming sessions, bolstered by the 50-day exponential moving average (EMA). However, a drop below $33.30 could halt this upward trend, potentially leading to a decline in prices on an intraday basis.
Today’s expected trading range is set between a support level of $33.70 and a resistance level of $34.55.
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