Silver price settles within tight range keeping its stability above the intraday bullish channel’s support. Thus, there will be no change on the expected bullish trend scenario for today. It gets positive support by the EMA50 and stochastic, waiting for target 18.30 level as the next main station. Take into consideration that holding above 17.20 represents key condition to continue the bullish trend expected for today. Therefore, we are waiting for positive trading in the upcoming sessions. Note that our next target is located at 18.30. Take into consideration that breaking 17.20 level will push the price to suffer more losses. It will target testing 16.56 areas before any new attempts to rise. The expected trading range for today is between 17.00 support and 17.80 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Silver price settles within tight range keeping its stability above the intraday bullish channel’s support. Thus, there will be no change on the expected bullish trend scenario for today. It gets positive support by the EMA50 and stochastic, waiting for target 18.30 level as the next main station. Take into consideration that holding above 17.20 represents key condition to continue the bullish trend expected for today. Therefore, we are waiting for positive trading in the upcoming sessions. Note that our next target is located at 18.30. Take into consideration that breaking 17.20 level will push the price to suffer more losses. It will target testing 16.56 areas before any new attempts to rise. The expected trading range for today is between 17.00 support and 17.80 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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