Daily analysis of Silver for February 09, 2018

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Overview

Silver price has settled down below 16.56 level, to keep the negative pressure valid until now. We are waiting until the bearish trend resumes with the next target at 15.49. Stochastic's current positivity might force the price to provide some sideways trading before heading towards the mentioned target. On the other hand, the expected bearish trend will remain valid unless breaching 16.56 level and holding with a daily close above it. The expected trading range for today is between 16.00 support and 16.50 resistance.

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