Overview
Silver traded lower yesterday. The price is expected to approach our main target level of 16.56 to keep the bearish scenario valid until now. This outlook is supported by the negative pressure formed by the EMA50. Please be aware that it is important to monitor the price movement until the price reaches the target level, as breaking it will push the price to head towards 15.49 as the next main target. On the other hand, we should note that breaching 17.43 will stop the current negative pressure and lead the price to resume its bullish track again. The expected trading range for today is between 16.70 support and 17.00 resistance.
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