Silver price is trading sideways over the last couple of sessions. Technically medium-term and short-term trend remain bullish. Price continues making higher highs and higher lows inside the blue upward sloping channel. Support by the lower channel boundary is at $24.25. Resistance by the upside channel boundary is at $25.90. Staying inside the blue upward sloping channel is key for bulls. Price is now trading around $24.85 and a pull back towards $24.25 is justified for the near term. A break above $25.08 would provide us with a new bullish signal that could push price towards our next target of $25.90.
The material has been provided by InstaForex Company – www.instaforex.com
Blue lines- bullish channel
Silver price is trading sideways over the last couple of sessions. Technically medium-term and short-term trend remain bullish. Price continues making higher highs and higher lows inside the blue upward sloping channel. Support by the lower channel boundary is at $24.25. Resistance by the upside channel boundary is at $25.90. Staying inside the blue upward sloping channel is key for bulls. Price is now trading around $24.85 and a pull back towards $24.25 is justified for the near term. A break above $25.08 would provide us with a new bullish signal that could push price towards our next target of $25.90.
The material has been provided by InstaForex Company – www.instaforex.com
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