Overview
Silver price continues to fluctuate around $16.56. Please note that stochastic gets rid of its negativity to reach the thresholds of the oversold areas. This dynamic confrms the bullish scenario, so we expect the price to continue rising in the short term. Let me remind you that our next main target is located at $17.43. The EMA50 continues to support the price from below, reinforcing the chances of an strong bullish trend on the intraday and short term basis. Besides, breaking $16.15 level will push the price to test $15.49 areas again before any new attempt to rise. The expected trading range for today is between $16.40 support and $16.80 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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