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Silver prices have experienced a notable downturn in recent sessions, beginning today with an additional drop that confirms a break below the $31.70 mark. The precious metal has reached a low of $31.00, and analysts suggest that this bearish trend may continue, potentially leading to further declines and targeting a price of $30.06.
Given this outlook, a bearish sentiment is anticipated for today. However, should prices breach the $31.70 level and maintain trading above it, this could trigger a resurgence in bullish momentum, with potential targets starting at $32.50 and extending to $33.00.
Traders can expect today’s trading range to fluctuate between a support level of $30.90 and a resistance level of $31.70.
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