Daily analysis of Silver for November 20, 2017

SILVERH4.png

Overview

Silver price is again fluctuating around the EMA50, after testing 17.43 level in the previous sessions. The metal needs to gain strong momentum to encourage the chances of breaching the mentioned level to confirm a further bullish wave towards 18.30 that represents our next main target. In general, we keep our positive overview for the short term unless breaking 16.56 level and holding below it, as breaking this level will nudge the price to visit 15.49 areas before any new attempt to rise. The expected trading range for today is between 16.75 support and 17.20 resistance.

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