The silver price approached 16.15 levels yesterday, but did not breach it. The EMA50 forms negative pressure that the price needs to get rid of to be able to continue its bullish track on the intraday and short-term basis. We are still waiting a breach of the mentioned level to confirm the continuation of the bullish wave, which first main target is located at 16.56. In general, the bullish trend will remain valid and active unless breaking and holding below 15.49 levels. A breach of the targeted level will extend the bullish wave to 17.43 as the next main target. The expected trading range for today is between the 15.80 support and the 16.30 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The silver price approached 16.15 levels yesterday, but did not breach it. The EMA50 forms negative pressure that the price needs to get rid of to be able to continue its bullish track on the intraday and short-term basis. We are still waiting a breach of the mentioned level to confirm the continuation of the bullish wave, which first main target is located at 16.56. In general, the bullish trend will remain valid and active unless breaking and holding below 15.49 levels. A breach of the targeted level will extend the bullish wave to 17.43 as the next main target. The expected trading range for today is between the 15.80 support and the 16.30 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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