Daily analysis of Silver for July 31, 2017

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Overview

Silver price keeps its stability above 16.56 level, while it faces solid resistance at 16.80 formed by the previously broken bullish trend as appears on the chart, which means that the price needs to breach this level to ease the mission of heading towards our expected target at 17.43. In general, we will continue to suggest the bullish trend in the upcoming period as long as the price holds above 16.56, noting that breaching the targeted level will extend silver price gains to reach 18.30 as a next main station. The expected trading range for today is between 16.56 support and 16.90 resistance.

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