Daily analysis of Silver for April 06, 2018

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Overview

Silver price tested 16.15 level yesterday and rebounded from there. The price is confined inside the sideways range. Its lines are represented by the mentioned support and 16.80 resistance that keeps the sideways trading scenario valid on the intraday basis until the price makes a valid breakout of one of the mentioned levels. We remind you that breaching the mentioned resistance will push the price to achieve gains from 17.43 mainly. On the other hand, breaking support will put the price under negative pressure that targets testing 15.49 level before any new attempt to rise. The expected trading range for today is between 16.15 support and 16.70 resistance.

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