Overview
Silver price resumed its negative trading to reach our first main target at 15.87, which represents the 50% Fibonacci level for the rise measured from 13.74 to 18.00, thus, breaking this level will push the price to head towards 15.37 as a next main target. The EMA50 forms continuous negative pressure on the price, which encourages us to keep our bearish overview for the upcoming period, which will remain valid and active unless the price managed to breach the 16.37 level and hold above it.
The expected trading range for today is between the 15.50 support and the 16.37 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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