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Silver prices opened today with a notable increase, surpassing the $31 mark and striving to maintain this position. This upward movement bolsters expectations of a continued bullish trend in the coming sessions, with a target of reaching $31.70.
However, Stochastic indicators suggest potential downward pressure that could impede the bullish momentum. Meanwhile, the 50-day Exponential Moving Average (EMA50) is providing solid support for this positive outlook. Should silver fail to sustain levels above $31, it may face downward pressure, potentially testing the $30.06 mark before attempting another rise.
Today’s expected trading range is between a support level of $30.70 and a resistance level of $31.70.
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