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Silver prices are currently trading within a bullish pennant pattern, as indicated on the latest market charts. For upward momentum to continue, the price must break above $33.95. Such a movement is crucial to establish a positive trajectory, potentially driving prices toward initial targets of $34.70, followed by $35.00.
Market analysts maintain a bullish outlook for the near term. However, a decline below $33.45 could invalidate this bullish sentiment, resulting in a bearish correction before the potential for a rebound occurs.
Today, the expected trading range for silver is between the support level at $33.70 and resistance at $34.60.
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