Silver prices have recently fallen below the $30.06 mark, plunging to $29.30, signaling a potential bearish correction in the near term. However, positive indicators from the stochastic oscillator suggest that the price may attempt to initiate a bullish trend. This creates a situation of conflicting technical signals, prompting a cautious approach until a clearer trend direction emerges.
Should silver prices rise and surpass the $30.06 threshold, it would likely reinstate the overall bullish trend, with initial gains potentially reaching $31.00. Conversely, if prices drop below $29.30, it could trigger further declines, with the next target set at $28.55.
For today, the anticipated trading range is between $29.10 on the support side and $30.10 on the resistance side.
