Daily analysis of Silver for July 12, 2017

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Overview

Silver price rallied clearly yesterday to breach 15.70 level and settled above it, which opens the way to a further bullish bias in the upcoming sessions. Now, silver is on its way to test 16.56 as the first main station. Therefore, we should wait until another rise on the intraday and short-term basis. Breaching the targeted level will push the price to head towards 17.43 directly. The expected rise will remain valid unless breaking 15.49 and holding below it. The expected trading range for today is between 15.70 support and 16.20 resistance.

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