Daily analysis of Silver for November 20, 2017

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Overview

Silver price succeeded to reach our first target at 17.43, reinforcing the expectations of a further bullish trend on the intraday- and short-term basis. We are waiting until this level is breached to confirm that the bullish wave is extended towards 18.30. Please be aware that the EMA50 provides the positive support to the price. Therefore, we will continue to suggest the bullish trend in the upcoming sessions, conditioned by the price stability above 16.56. The expected trading range for today is between 17.00 support and 17.43 resistance.

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