The silver price continues fluctuating in a narrow sideways range near 61.8% Fibonacci correction level at 15.30, waiting to confirm the next trend by surpassing one of the next trend keys represented by 15.00 support and 15.70 resistance. So we remain neutral and monitor the price behavior according to these levels. Breaching 15.70 levels will push the price to target 16.35 levels directly; while breaking 15.00 levels represents the first key for the price return to the main bearish trend. Negative targets begin at 14.67 and then 14.27.
The expected trading range for today is between 14.70 support and 15.70 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Overview
The silver price continues fluctuating in a narrow sideways range near 61.8% Fibonacci correction level at 15.30, waiting to confirm the next trend by surpassing one of the next trend keys represented by 15.00 support and 15.70 resistance. So we remain neutral and monitor the price behavior according to these levels. Breaching 15.70 levels will push the price to target 16.35 levels directly; while breaking 15.00 levels represents the first key for the price return to the main bearish trend. Negative targets begin at 14.67 and then 14.27.
The expected trading range for today is between 14.70 support and 15.70 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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