Daily analysis of Silver for December 19, 2016

Overview

The silver price has settled around $16.00 levels after the latest decline that pushed the price to break $16.56 levels. As long as the price is below this level, the bearish trend scenario will remain active for the upcoming period and the price will test $15.49 levels as the next main station. Therefore, we still expect the bearish trend for today, unless we witness a clear breach above $16.56. The expected trading range for today is between the $15.49 support and the $16.50 resistance.

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