Daily analysis of Silver for October 12, 2017

SILV-12.17H4.png

Overview

Silver price managed to breach the resistance line that appears on the above chart and settles above it, reinforcing the expectations of continuing the bullish trend on the intraday and short-term basis, reminding you that our positive targets begin at 17.43 and extend to reach 18.30 after breaching the previous level. Stochastic negativity interprets the reason of the current sideways fluctuation, waiting to gain enough positive momentum to push the price to continue rising in the upcoming sessions, reminding you that holding above 16.56 represents the most important condition to continue the suggested bullish wave. The expected trading range for today is between 17.00 support and 17.35 resistance.

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