Silver price managed to confirm activation of the falling wedge resistance that appears on the chart after breaching its resistance level that now turns into support at 19.38. Such develoments support the continuation of our bullish trend expectations for the upcoming period, opening the way towards the previously recorded top at 21.12 as a next main station. Therefore, the bullish bias will remain dominant on the intraday and short-term basis supported by the EMA 50, unless we witness a clear break and holding below 19.38. The expected trading range for today is between 19.60 support and 20.70 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Silver price managed to confirm activation of the falling wedge resistance that appears on the chart after breaching its resistance level that now turns into support at 19.38. Such develoments support the continuation of our bullish trend expectations for the upcoming period, opening the way towards the previously recorded top at 21.12 as a next main station. Therefore, the bullish bias will remain dominant on the intraday and short-term basis supported by the EMA 50, unless we witness a clear break and holding below 19.38. The expected trading range for today is between 19.60 support and 20.70 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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