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Silver prices are currently exhibiting a bearish trend, settling below the $32.00 mark. Despite this, stochastic indicators are attempting to gain positive momentum in the intraday time frames, suggesting the potential for a resumption of the main bullish trend in the near future. The next target in this upward movement is set at $32.50.
Support for this anticipated bullish wave is provided by the 50-period Exponential Moving Average (EMA50). This bullish outlook will remain intact as long as prices do not break below the $31.00 level and hold below it.
For today, the expected trading range is between a support level of $31.60 and a resistance level of $32.40.
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