Silver is trading with a slight bullish bias after it kept its stability above the support base formed above the correctional bearish channel’s resistance. You can judge the developments on the chart. The price is moving inside a minor bullish channel that supports the bullish scenario in the upcoming sessions. The metal is waiting to test 17.43 level initially. In general, the bullish scenario is still valid for the short term supported by the EMA50. Let me remind you that breaching the targeted level will extend price gains to reach 18.30. Holding above 16.56 is the most important condition to continue the expected rise. The expected trading range for today is between 17.00 support and 17.43 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Silver is trading with a slight bullish bias after it kept its stability above the support base formed above the correctional bearish channel’s resistance. You can judge the developments on the chart. The price is moving inside a minor bullish channel that supports the bullish scenario in the upcoming sessions. The metal is waiting to test 17.43 level initially. In general, the bullish scenario is still valid for the short term supported by the EMA50. Let me remind you that breaching the targeted level will extend price gains to reach 18.30. Holding above 16.56 is the most important condition to continue the expected rise. The expected trading range for today is between 17.00 support and 17.43 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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