Daily analysis of Silver for October 05, 2017

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Overview

The silver price is fluctuating at the key support of 16.56 again after positive attempts provided yesterday. This could mean an attempt to break the mentioned support and extend the bearish wave on the short-term basis as the next target is located at 15.49. Therefore, we will keep our bearish overview in the upcoming period supported by the EMA50, noting that a breach of 17.43 will stop the negative scenario and lead the price to a rise again. The expected trading range for today is between the 16.40 support and the 16.70 resistance.

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