Overview
The silver price broke the $19.38 level and settled below it testing the bullish trend line located at $18.95. As we mentioned in our recent reports, the achieved break will lead the price to test the 38.2% Fibonacci level at $18.30 before turning back to rise. Therefore, the bearish bias is temporarily expected in the upcoming sessions, and a break of $18.95 levels will confirm the bias. A breach of $19.38 levels will stop the current negative pressure and lead the price to resume the main bullish trend again, while a break of $18.30 levels will extend the correctional bearish wave to 17.43 as the next main station. The expected trading range for today is between the $18.30 support and the $19.38 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
The post Daily analysis of Silver for September 28, 2016 appeared first on forex-analytics.press.