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Silver prices experienced downward pressure yesterday, briefly dropping to the $28.55 level. However, the market rebounded positively today, with prices stabilizing above this level. The resurgence is supported by a positive stochastic signal, suggesting a potential for further gains in the upcoming sessions.
Analysts anticipate that silver may aim to test the $29.30 mark next. A breach of this level could drive prices towards a new target of $30.06. Conversely, if silver fails to hold above $28.55 and breaks below this level, it could halt the anticipated upward trend and lead to a decline.
For today, the expected trading range for silver is between the support level of $28.50 and the resistance level of $29.30.
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