Silver price continues its negative pressure to break the minor bullish channel’s support and head towards the critical support of 16.56. As we mentioned in our recent reports, the price needs to hold above this level to keep the bullish trend active on the intraday and short-term basis, as breaking this level will push the price to head towards 15.49 before any new attempt to rise. Therefore, we still suggest the bullish trend in the upcoming sessions on condition that the price holds firmly above 16.56. Please note that the price needs to breach 16.95 to ease the mission of heading towards our first main target at 17.43. The expected trading range for today is between 16.56 support and 17.00 resistance
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Silver price continues its negative pressure to break the minor bullish channel’s support and head towards the critical support of 16.56. As we mentioned in our recent reports, the price needs to hold above this level to keep the bullish trend active on the intraday and short-term basis, as breaking this level will push the price to head towards 15.49 before any new attempt to rise. Therefore, we still suggest the bullish trend in the upcoming sessions on condition that the price holds firmly above 16.56. Please note that the price needs to breach 16.95 to ease the mission of heading towards our first main target at 17.43. The expected trading range for today is between 16.56 support and 17.00 resistance
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: