Silver price resumes its decline, trading near the minor bullish channel’s support line which is displayed on the chart. The price needs to break the level of 16.95. It should be broken to confirm a further decline towards 16.56. Until now, the bearish trend scenario is still valid as long as 17.43 level remains intact. This outlook is supported by the negative signal that appears on stochastic. Please note that breaching 17.43 will stop the expected decline and push the price to hit upward targets from 18.30. The expected trading range for today is between 16.90 support and 17.25 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Overview
Silver price resumes its decline, trading near the minor bullish channel’s support line which is displayed on the chart. The price needs to break the level of 16.95. It should be broken to confirm a further decline towards 16.56. Until now, the bearish trend scenario is still valid as long as 17.43 level remains intact. This outlook is supported by the negative signal that appears on stochastic. Please note that breaching 17.43 will stop the expected decline and push the price to hit upward targets from 18.30. The expected trading range for today is between 16.90 support and 17.25 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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