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Silver prices have surged past the critical $30.63 mark, signaling an end to the bearish correction that began from the $34.85 range. The metal is now approaching the $31.63 resistance level, and a break above this threshold could pave the way for further gains, with targets set at $32.25 and $32.86.
The bullish momentum remains intact, bolstered by silver’s movement above the 50-day Exponential Moving Average (EMA). However, if the price fails to break through the $31.63 resistance, it could trigger a reversal, pushing silver prices back towards the $30.63 level.
The anticipated trading range for the day is between $31.10 (support) and $32.00 (resistance).
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