Daily analysis of Silver for April 20, 2018

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Overview

Silver price apoprached our first upward target at 17.43, showing sideways trading now that is affected by stochastic weaker momentum. However, the EMA50 is still supporting the price from below, which keeps the chances valid to continue the rise in the short term. Therefore, we still suggest the bullish trend unless breaking 16.56 level and holding below it. Please note that breaching 17.43 will extend silver price gains to reach 18.30 as the next station. The expected trading range for today is between 17.00 support and 17.43 resistance.

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