Silver managed to reach our first main target at 18.30, showing some bearish bias. Now it is fluctuating around 18.00 barrier. Notice that stochastic gets rid of its negativity to enter the oversold areas now, which supports the chances of resuming the bullish trend in the upcoming sessions. The price needs to breach 18.30 to confirm extending the bullish wave towards 19.00. Therefore, we will continue to suggest the overall bullish trend supported by the EMA50, noting that the continuation of the bullish bias depends on holding above 17.43 and 17.10 levels. The expected trading range for today is between 17.90 support and 18.40 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Silver managed to reach our first main target at 18.30, showing some bearish bias. Now it is fluctuating around 18.00 barrier. Notice that stochastic gets rid of its negativity to enter the oversold areas now, which supports the chances of resuming the bullish trend in the upcoming sessions. The price needs to breach 18.30 to confirm extending the bullish wave towards 19.00. Therefore, we will continue to suggest the overall bullish trend supported by the EMA50, noting that the continuation of the bullish bias depends on holding above 17.43 and 17.10 levels. The expected trading range for today is between 17.90 support and 18.40 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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