Silver Price Eyes Bullish Breakout Amid Sideways Movement

Silver prices have been trading within a sideways range in recent sessions, receiving positive support from the 50-period Exponential Moving Average (EMA). The stochastic indicator is gaining positive momentum on intraday timeframes, suggesting the possibility of a price increase in the upcoming sessions, with an initial target of $31.63.

The continuation of this bullish trend hinges on the price holding above the key support level of $30.63. A break below this level could lead to intraday losses, with the next support at $29.63.

For today, silver is expected to trade within a range between $30.80 on the support side and $31.60 as resistance.

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