Daily analysis of Silver for September 01, 2017

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Overview

The silver price closed positively above 17.43 levels in attempt to confirm formation of the support base above it. This reinforces expectations of bullish trend continuation on the intraday and short-term basis. The way is open for heading towards our next main target at 18.30. Therefore, we are waiting for more rises in the upcoming sessions inside the bullish channel shown on the chart. A break of 17.43 might force the price to test 17.00 and might extend to 16.56 levels before any new attempt to rise. The expected trading range for today is between the 17.40 support and the 17.75 resistance.

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