Overview
The silver price broke the bearish channel's support level and closed the last four hours below it, invalidating the positive scenario suggested in our last reports. We should stay aside in order to monitor the price behavior according to the critical levels represented by 14.67 support and 15.70 resistance. The price is likely to breach one of these levels, thus detecting the next trend clearly. Besides, the price might head towards testing the mentioned support in case of breaking the 15.00 level in the upcoming session. Note that a break of the 14.67 level will extend silver losses to 14.27 then 13.63 on the near-term basis, while a breach of 15.70 would make the price regain the bullish track and head towards 16.35 as the first main target.
The expected trading range for today is between 14.80 support and 15.50 resistance.
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