Daily analysis of Silver for October 19, 2017

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Overview

Silver price is showing a slight bearish bias to move below 17.00 barrier now. However, we notice that stochastic reaches the oversold areas now to provide positive signal that supports the chances of a bullish bounce, so the overall bullish trend could resume. We still suggest the general bullish bias for the short term. The expected targets of the bullish wave begin by breaching 17.43 will open the way to head towards 18.30. Please taking into consideration that breaking 16.56 will stop the expected rise and push the price to decline towards 15.49 before any new attempt to rise. The expected trading range for today is between 16.80 support and 17.10 resistance.

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