Silver price are still holding above 16.80 level, and the EMA50 provides continuous positive support for the price. At the same time, stochastic is making attempts to get rid of its negativity, so solver is gaining momentum gradually that is seen on the chart of a four-hour time frame. Therefore, these factors encourage us to keep the bullish outlook for the upcoming sessions. The first target is seen at 17.43. Please bear in mind that holding above 16.56 represents the most important condition for a further rally. The expected trading range for today is between 16.70 support and 17.30 resistance
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Silver price are still holding above 16.80 level, and the EMA50 provides continuous positive support for the price. At the same time, stochastic is making attempts to get rid of its negativity, so solver is gaining momentum gradually that is seen on the chart of a four-hour time frame. Therefore, these factors encourage us to keep the bullish outlook for the upcoming sessions. The first target is seen at 17.43. Please bear in mind that holding above 16.56 represents the most important condition for a further rally. The expected trading range for today is between 16.70 support and 17.30 resistance
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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