Silver price managed to achieve our first target represented by the EMA50, located now at 16.75, noticing that stochastic provides clear positive signals on the daily time frame, which forms positive motive that we are waiting to push the price to continue rising in the upcoming period, waiting to head towards 17.43 that represents our next main station. Therefore, we will continue to suggest the bullish trend on the intraday and short-term basis conditioned by the price stability above 16.25, as breaking this level will push the price to test 15.49 areas before any new attempt to rise. The expected trading range for today is between 16.50 support and 16.90 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Overview
Silver price managed to achieve our first target represented by the EMA50, located now at 16.75, noticing that stochastic provides clear positive signals on the daily time frame, which forms positive motive that we are waiting to push the price to continue rising in the upcoming period, waiting to head towards 17.43 that represents our next main station. Therefore, we will continue to suggest the bullish trend on the intraday and short-term basis conditioned by the price stability above 16.25, as breaking this level will push the price to test 15.49 areas before any new attempt to rise. The expected trading range for today is between 16.50 support and 16.90 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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