Overview
Silver opens today's session with clear positivity to surpass the previously broken support line of the bullish channel and 16.37 level, but it kept the stability of the daily close below these levels. Stochastic loses its positive momentum clearly to reach the overbought areas, offering a negative factor that we are waiting as it will enable the price to resume the bearish bias, the next targets located at 15.87 and followed by 15.37. Therefore, the bearish trend will remain valid and active supported by the EMA50. We should take into consideration that the stability above 16.37 will stop the expected decline and lead the price to recover again. The expected trading range for today is between 15.87 support and 16.60 resistance.
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