The silver price calmly edges higher approaching our initial target at 17.43, motivated by Stochastic positivity shown on the four-hour time frame. A breach of this level will extend silver gains to 18.30 levels on the near-term basis. Therefore, the bullish trend will remain valid and active for today unless breaking and holding below 16.56 levels. The expected trading range for today is between the 17.00 support and the 17.50 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The silver price calmly edges higher approaching our initial target at 17.43, motivated by Stochastic positivity shown on the four-hour time frame. A breach of this level will extend silver gains to 18.30 levels on the near-term basis. Therefore, the bullish trend will remain valid and active for today unless breaking and holding below 16.56 levels. The expected trading range for today is between the 17.00 support and the 17.50 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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