Silver price is hovering around 16.56, accompanied by a stochastic approach from the oversold areas. This keeps the chances valid to rebound and resume the expected bullish trend on the intraday and short-term basis, waiting to visit the first target level of 17.43. Therefore, the bullish outlook is valid unless we witness a clear break and the metal holds below 16.56. Breaking this level will push the price down to 15.49 directly before any new positive attempt. Breaching 17.43 represents the key to extend silver price gains to reach 18.30 as the next target level. The expected trading range for today is between 16.40 support and 16.90 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Silver price is hovering around 16.56, accompanied by a stochastic approach from the oversold areas. This keeps the chances valid to rebound and resume the expected bullish trend on the intraday and short-term basis, waiting to visit the first target level of 17.43. Therefore, the bullish outlook is valid unless we witness a clear break and the metal holds below 16.56. Breaking this level will push the price down to 15.49 directly before any new positive attempt. Breaching 17.43 represents the key to extend silver price gains to reach 18.30 as the next target level. The expected trading range for today is between 16.40 support and 16.90 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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