Daily analysis of Silver for November 23, 2017

SILVERH4.png

Overview

Silver price keeps fluctuating near the EMA50. Please note that stochastic begins to overlap positively on 4H frame. We are waiting until the price gains momentum to resume the bullish trend in the short term. The first target is set by testing 17.43 level. Breaching this level will push the price to 18.30 as the next station. Therefore, the bullish trend will remain active unless a clear break is seen and held with a daily close below 16.56. The expected trading range for today is between 16.90 support and 17.43 resistance.

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