5
Silver prices are encountering robust resistance at the $30.06 mark. For a potential price breakthrough and advancement towards the next target of $31.00, a positive catalyst is needed. Current indicators show that the stochastic oscillator is shifting from negative to positive momentum on intraday charts, reinforcing expectations of a continued price increase.
The 50-day Exponential Moving Average (EMA50) supports the bullish outlook, which will remain intact as long as silver prices do not fall below $29.30 and stay under that level.
Today’s anticipated trading range is between a support level of $29.60 and resistance at $30.35.
Related topic: