Daily analysis of Silver for January 04, 2018



The silver price shows sideways and tight trades, settling around 17.00 levels. The price is affected by stochastic negativity that blocks the attempts to rise, while the EMA 50 continues to provide the positive support to the price. Therefore, we will continue to suggest the overall bullish trend conditioned by holding above 16.55. A breach of 17.43 will open the way to achieve more positive targets reaching 18.30 on the near-term basis. The expected trading range for today is between the 16.85 support and the 17.30 resistance.

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