Overview
Silver price approached our main waited target at 18.00 and bounced back to lower levels affected by stochastic negativity that appeared yesterday. Now it is reaching the oversold areas to support the chances of resuming the bullish bias again. Additionally, the EMA50 provides positive support to the price. Therefore, we wait for positive trading in the upcoming sessions with the targets begining at 18.00 and extending to 18.63 after breaching the previous level. Please note that the price should hold above 17.00 to achieve the suggested targets.
The expected trading range for today is between 17.00 support and 18.00 resistance.
The material has been provided by InstaForex Company - www.instaforex.com