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Silver prices surged beyond the $28.55 mark in the latest trading session, closing above this critical level and positioning itself for potential gains in the near future. Analysts predict that the metal could reach the $29.30 and $30.06 thresholds as the next significant targets.
The recent move above the 50-period Exponential Moving Average (EMA50) reinforces the bullish outlook for silver. This positive trend is expected to continue as long as the price remains above $28.55. A decline below this level, however, could negate the current bullish expectations.
For today’s trading, silver is anticipated to fluctuate within a range of $28.50 on the downside and $29.40 on the upside.
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