The silver price approaches from retesting the 16.56 level that forms key resistance now as holding above this level represents the key to negative scenario continuation, which targets 15.49 levels in the upcoming period. Therefore, we will keep our bearish trend expectations valid for today unless breaching and holding above 16.56 levels, as the breach is a positive factor that will make the price attempt to regain the main bullish trend again with positive targets starting at 17.43 and extending to 18.30. The expected trading range for today is between the 15.80 support and the 16.56 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The silver price approaches from retesting the 16.56 level that forms key resistance now as holding above this level represents the key to negative scenario continuation, which targets 15.49 levels in the upcoming period. Therefore, we will keep our bearish trend expectations valid for today unless breaching and holding above 16.56 levels, as the breach is a positive factor that will make the price attempt to regain the main bullish trend again with positive targets starting at 17.43 and extending to 18.30. The expected trading range for today is between the 15.80 support and the 16.56 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: