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In the latest analysis of silver prices, a bullish rebound was noted following a test of the $28.00 regions yesterday. This resurgence signals a resumption of the upward trajectory, with aims set on achieving gains ranging from $28.90 to $29.80 upon surpassing the previous levels. Such movements maintain the positive outlook, projecting continued activity in the forthcoming period.
The bullish momentum finds support within the established channel, further reinforced by the EMA50. It’s emphasized that maintaining levels above $28.00 is pivotal for sustaining the anticipated rise and guarding against potential corrective bearish pressures.
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Expected Trading Range
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- Support: $28.30
- Resistance: $29.00
Trend Forecast: Bullish
