Silver price broke the intraday bullish channel’s support, which forms a negative factor that is expected to push the price to test 17.43 before turning back to rise again. Therefore, the bearish bias is suggested temporarily. We are waiting for a bounce to resume the main bullish trend. The main target is seen at 19.38. Please note that breaching 18.30 will stop the current negative pressure and lead the price to rise without the need to visit the above mentioned level. The expected trading range for today is between 17.70 support and 18.20 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Silver price broke the intraday bullish channel’s support, which forms a negative factor that is expected to push the price to test 17.43 before turning back to rise again. Therefore, the bearish bias is suggested temporarily. We are waiting for a bounce to resume the main bullish trend. The main target is seen at 19.38. Please note that breaching 18.30 will stop the current negative pressure and lead the price to rise without the need to visit the above mentioned level. The expected trading range for today is between 17.70 support and 18.20 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: