Overview
Silver price gained good profit last Friday, having reached the first target at 16.37. Currently, the price advances further, reinforcing the expectations of the continuation of the bullish trend on the longer term basis, especially after silver closed last week's trading above the mentioned level. Therefore, we believe that the way is open to head towards our next main target at 17.00. On the other hand, breaking 16.37 level and holding below it might push the price to visit areas around 15.87 before it attempts to decline again.
The expected trading range for today is between 16.15 support and 16.80 resistance.
The material has been provided by InstaForex Company - www.instaforex.com