The silver price traded steadily above the key support at 16.56 after attempting to break it yesterday. This keeps the bullish trend scenario active until now; the count is also supported by stochastic positivity shown on the four-hour time frame. The price is likely to visit the 17.43 level as the first main target. Note that a breach of 16.85 levels will complete positive technical formation, which confirms the expected bullish trend continuation. A break of 16.56 levels will stop the positive overview and push the price to 15.49. The expected trading range for today is between the 16.40 support and the 16.90 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The silver price traded steadily above the key support at 16.56 after attempting to break it yesterday. This keeps the bullish trend scenario active until now; the count is also supported by stochastic positivity shown on the four-hour time frame. The price is likely to visit the 17.43 level as the first main target. Note that a breach of 16.85 levels will complete positive technical formation, which confirms the expected bullish trend continuation. A break of 16.56 levels will stop the positive overview and push the price to 15.49. The expected trading range for today is between the 16.40 support and the 16.90 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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