Overview
The silver price traded downwards yesterday coming close to testing the key support 16.56. Stochastic is reaching the oversold areas' thresholds, which forms a positive factor that we are waiting to help the price rebound bullishly in the upcoming sessions to 17.43 levels as the next main station. In general, the bullish trend will remain valid and active on the intraday and short-term basis unless breaking and holding below 16.56 levels as the break represents the key to extend negative trading towards 15.49. Meanwhile, the breach of 17.43 will extend the silver price gains to 18.30. The expected trading range for today is between the 16.56 support and the17.20 resistance.
The material has been provided by InstaForex Company - www.instaforex.com