The silver price managed to hit our first main target at 19.38 and settle around it, accompanied by clear overbought signals generated by stochastic. This might lead to some temporary sideways fluctuations before resuming the bullish bias again. In general, we will still expect the bullish trend in the upcoming period unless breaking and holding below 18.30 levels. A breach of the 19.38 – 19.52 areas will activate the positive effect of the falling Wedge pattern, which signs appear on the chart. It will help the price head towards our next main target at 21.12. The expected trading range for today is between the 18.90 support and the 19.70 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The silver price managed to hit our first main target at 19.38 and settle around it, accompanied by clear overbought signals generated by stochastic. This might lead to some temporary sideways fluctuations before resuming the bullish bias again. In general, we will still expect the bullish trend in the upcoming period unless breaking and holding below 18.30 levels. A breach of the 19.38 – 19.52 areas will activate the positive effect of the falling Wedge pattern, which signs appear on the chart. It will help the price head towards our next main target at 21.12. The expected trading range for today is between the 18.90 support and the 19.70 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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