The silver price trades with clear positivity breaching 16.56 levels and closing the last four-hour candlestick above it. This stops the recently suggested negative scenario and makes the price try to recover to target 17.43. The price attempts to regain the main bullish trend after the correctional bearish pressure that dominated the recent trades. Therefore, the bullish bias is expected in the upcoming sessions conditioned by the price stability above 16.56. A breach of 17.43 will extend the silver price gains to 18.30 as the next main station. The expected trading range for today is between the 16.56 support and the 17.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The silver price trades with clear positivity breaching 16.56 levels and closing the last four-hour candlestick above it. This stops the recently suggested negative scenario and makes the price try to recover to target 17.43. The price attempts to regain the main bullish trend after the correctional bearish pressure that dominated the recent trades. Therefore, the bullish bias is expected in the upcoming sessions conditioned by the price stability above 16.56. A breach of 17.43 will extend the silver price gains to 18.30 as the next main station. The expected trading range for today is between the 16.56 support and the 17.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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