The silver price traded upwards testing the key resistance at 16.70. Now the price is holding below this level, thus keeping the bearish trend active in the upcoming sessions. A breach of the mentioned level will help the price return to the main bullish trend, which first target is located at 17.43. You should be aware that a breach of 16.56 and 16.70 levels will stop the suggested negative scenario and lead the price to regain its main bullish track with upward targets beginning at 17.43. The expected trading range for today is between the 16.20 support and the 16.60 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The silver price traded upwards testing the key resistance at 16.70. Now the price is holding below this level, thus keeping the bearish trend active in the upcoming sessions. A breach of the mentioned level will help the price return to the main bullish trend, which first target is located at 17.43. You should be aware that a breach of 16.56 and 16.70 levels will stop the suggested negative scenario and lead the price to regain its main bullish track with upward targets beginning at 17.43. The expected trading range for today is between the 16.20 support and the 16.60 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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