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Daily analysis of Silver for April 12, 2016

SILVERH4.png

Overview

The silver price shows clear upside moves starting to test the 16.00 barrier and reinforcing expectations for the bullish trend continuation in the upcoming period. The way is open for testing the 16.35 level that represents the recorded top at the end of the last year. Therefore, the bullish trend scenario will remain valid and active on the intraday and short-term basis unless breaking the 15.30 level and holding with a daily close below it.

The expected trading range for today is between the 15.50 support and the 16.35 resistance.

The material has been provided by InstaForex Company - www.instaforex.com