Daily analysis of Silver for October 10, 2017

SILV-12.17H4.png

Overview

Silver price continues to rise to begin testing the resistance line that appears on the chart, and the price needs to surpass the EMA50 that forms negative pressure against the intraday trading to confirm the continuation of the bullish bias in the upcoming sessions. In general, we will continue to suggest the bullish trend on the intraday and short-term basis as long as 16.56 level remains intact, noting that breaching 17.10 will reinforce the expectations of achieving our positive targets that start at 17.43 and extend to 18.30. The expected trading range for today is between 16.90 support and 17.20 resistance.

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