Overview
Since morning, the silver price has been trading sideways below 15.30 levels, keeping our bearish overview valid for the rest of the day. Our scenario depends on the stable trading below the mentioned level; its main targets are located at 14.67 then 14.27. Therefore, these factors confirm our bearish overview for the upcoming period. Targets begin by breaking the 15.00 level to ease the mission of heading towards 14.67 followed by 14.27 levels on the near-term basis. A breach of the 15.30 level will put the price back to the bullish track, which next main target is located at 16.35.
The expected trading range for today is between the 14.65 support and the 15.30 resistance.
The material has been provided by InstaForex Company - www.instaforex.com