Overview
The silver price breached 16.56 levels and settled with a daily close above it, which reactivates the bullish trend scenario on the intraday and short-term basis and makes the price head towards the 17.43 area initially. Therefore, we expected further rise in the upcoming sessions, supported by the EMA50 that meets 16.56, adding more strength to this level that turning into the key support after breaching it previously. Holding above this level is important for the price to continue the expected rise for today. The expected trading range for today is between the 16.56 support and the 16.90 resistance.
The material has been provided by InstaForex Company - www.instaforex.com
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