Silver price reached our expected target at $17.43 and settles near it. The price on the chart is accompanied by stochastic, so silver has entered the oversold area. It supports the chance for bouncing higher to resume the main bullish trend. Now the price is waiting for testing $18.30 initially. Therefore, we expect silver to trade higher in the short term. Please note that breaching the targeted level will extend silver gains to reach $19.38, while breaking $17.43 will push the price to suffer more of the losses with a downward target at $16.56. The expected trading range for today is between $17.40 support and $17.80 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Silver price reached our expected target at $17.43 and settles near it. The price on the chart is accompanied by stochastic, so silver has entered the oversold area. It supports the chance for bouncing higher to resume the main bullish trend. Now the price is waiting for testing $18.30 initially. Therefore, we expect silver to trade higher in the short term. Please note that breaching the targeted level will extend silver gains to reach $19.38, while breaking $17.43 will push the price to suffer more of the losses with a downward target at $16.56. The expected trading range for today is between $17.40 support and $17.80 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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