Silver price has settled at the bullish channel’s support, while stochastic keeps moving in the oversold area. Therefore, there is the chance for resuming the bearish bias in the upcoming sessions. We keep the bullish scenario valid and active until now, targeting 17.43 level as the next main station. The price needs to shrug off the negative pressure that was formed by the EMA50 to reinforce the positive expectations. At the same time, the bullish trend will remain valid unless breaking 16.85 then 16.56 levels and holding below them. The expected trading range for today is between 16.80 support and 17.43 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Silver price has settled at the bullish channel’s support, while stochastic keeps moving in the oversold area. Therefore, there is the chance for resuming the bearish bias in the upcoming sessions. We keep the bullish scenario valid and active until now, targeting 17.43 level as the next main station. The price needs to shrug off the negative pressure that was formed by the EMA50 to reinforce the positive expectations. At the same time, the bullish trend will remain valid unless breaking 16.85 then 16.56 levels and holding below them. The expected trading range for today is between 16.80 support and 17.43 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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