Silver showed more bullish bias this morning, underpinned by the Bollinger Bands indicator, which is providing positive signals as the price is moving above its middle line. Meanwhile, the price is trading near the upper band of the indicator, aiming to stabilize above it to resume its upward direction.

Scenario 1:

At the meantime, silver is moving within a bullish channel, hovering near resistance level at $32.40. If silver manages to hold above $32.40, it will probably head higher towards $32.90.  

Scenario 2:

If silver fails to hold above the resistance level at $32.40, it may retest the daily pivot point at $31.80. It is worth noting that settling below the aforesaid pivot point could pause the bullish momentum and dump prices near $31.60 then $31.30.