Silver prices demonstrated a notable increase yesterday, reaching the anticipated target of $31.70. Analysts suggest that if the price surpasses this level, it could pave the way for additional gains, potentially reaching $32.50. This momentum indicates a strong bullish trend expected to continue in the upcoming sessions.
A crucial factor for maintaining this upward trajectory is the price’s position above $31.00. Holding above this level is essential for the continuation of the expected rise. Conversely, if the price falls below $31.00, it may face negative pressure, with the next support level likely at $30.06, which could necessitate a reassessment of future price movements.
Today’s expected trading range is projected between a support level of $31.30 and a resistance level of $32.10.
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