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Silver prices encountered downward pressure at the start of today’s trading, testing the $31.00 level. However, the price managed to stabilize above this threshold, initiating a recovery that keeps the bullish trend intact for the foreseeable future. Market analysts are targeting $31.70, followed by $32.50, as the next significant resistance levels.
For this upward momentum to persist, it is crucial for silver prices to remain above the $31.00 mark. A break below this level could trigger a downward shift, leading the price to potentially test negative targets starting around $30.06.
Traders can expect the price to fluctuate within a range today, with support at $30.90 and resistance at $31.80.
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