Overview
The 15.70 level continues forming a good support base for the silver price, keeping the positive scenario valid and active on the intraday and short-term basis. The price is likely to resume the bullish wave that targets 16.35 then 16.65 levels mainly. Further positive expectations depend on steady trading above 15.70 and, most important, above 15.10 levels. A break of these levels represents the first key for the price's return to its main bearish track. Its next target is represented by testing the previously recorded bottom at 13.63.
The expected trading range for today is between 15.60 support and 16.35 resistance.
The material has been provided by InstaForex Company - www.instaforex.com