Silver prices have surged past the crucial $31.00 mark, firmly establishing a bullish trend for both the intraday and short-term outlooks. Analysts are now eyeing further gains, with targets set at $31.50 and $32.00 per ounce.
Despite potential temporary fluctuations indicated by stochastic indicators, market sentiment remains optimistic for a continued upward trajectory. Positive momentum is anticipated to support silver’s push towards the projected targets. However, a downturn below $31.00 followed by $30.50 could signal a reversal, bringing bearish pressures into play.
Today’s trading range is expected to fluctuate between support at $30.90 and resistance at $31.80, reflecting ongoing volatility amidst the bullish sentiment gripping the silver market.
