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Daily analysis of Silver for July 28, 2016

SILVERH4.png

Overview

The silver price managed to surpass 20.10 levels and closed the daily candlestick above it reinforcing the expectations for further rise to our next target at 21.12 in the upcoming sessions. Therefore, we still expect the bullish trend on the intraday and short-term bases supported by the EMA50 and conditioned by the price stability above 19.35 levels. The expected trading range for today is between the 19.90 support and the 21.12 resistance.

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