Daily analysis of Silver for July 10, 2017

SILVERH4.png

Overview

Silver price has been able to hit our expected target at 15.49. Please be aware that the metal began the week with a bearish bias to press and is moving below that level now. This provides signals for further losses on the longer-term basis, easing the way to the previously recorded bottom at 13.75. Therefore, the bearish trend will remain valid in the upcoming sessions, especially after the price made a daily close below 15.49. We should take into consideration that breaching this level and holding above it will open the way towrdas attempts to regain the recent losses and achieve positive targets that begin at 16.56. The expected trading range for today is between 15.20 support and 15.60 resistance.

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