Silver price returned to test the bullish channel’s support that appears in the above chart and keeps its stability above this level to reinforce the chances for bouncing higher and resuming the bullish trend on the intraday and short term basis, targeting testing 17.43 level initially. Therefore, our bullish expectations will remain valid for today, and breaching the targeted level will extend silver gains to reach 18.30 as a next main station, while the expected rise will remain valid unless breaking 16.85 then 16.56 levels and holding below them. The expected trading range for today is between 16.85 support and 17.43 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Silver price returned to test the bullish channel’s support that appears in the above chart and keeps its stability above this level to reinforce the chances for bouncing higher and resuming the bullish trend on the intraday and short term basis, targeting testing 17.43 level initially. Therefore, our bullish expectations will remain valid for today, and breaching the targeted level will extend silver gains to reach 18.30 as a next main station, while the expected rise will remain valid unless breaking 16.85 then 16.56 levels and holding below them. The expected trading range for today is between 16.85 support and 17.43 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: