The silver price shows more sideways trading being stuck between the key levels of the 18.30 support and the 18.80 resistance. The price needs to breach one these levels to detect its next destination clearly, especially given that there is a contradiction between stochastic positivity and the EMA50 negativity. Therefore, our neutrality will remain valid until now. A break of the 18.30 support will push the price to head towards 17.43 levels, while a breach of 18.80 will make the price start recovery attempts, which targets begin at 19.38 and extend to 21.12.
The expected trading range for today is between the 18.30 support and the 19.38 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The silver price shows more sideways trading being stuck between the key levels of the 18.30 support and the 18.80 resistance. The price needs to breach one these levels to detect its next destination clearly, especially given that there is a contradiction between stochastic positivity and the EMA50 negativity. Therefore, our neutrality will remain valid until now. A break of the 18.30 support will push the price to head towards 17.43 levels, while a breach of 18.80 will make the price start recovery attempts, which targets begin at 19.38 and extend to 21.12.
The expected trading range for today is between the 18.30 support and the 19.38 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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