Overview
The silver trades lower after it found a strong bullish channel's resistance as shown in the image. Besides, stochastic negativity on the four-hour time frame might push the price to some temporary bearish bias before it attempts to resume the main bullish trend. A breach of the 17.25 level will provide strong positive momentum that supports expectations for the upside track and lead the price towards 18.03 as the next main station. Holding below 17.08 might push the price to test the support base formed above 16.35 before any new attempt to rise.
The material has been provided by InstaForex Company - www.instaforex.com