Overview

Silver price retreated below 16.00 after the rise in the previous sessions. Stochastic keeps losing the positive momentum clearly on the daily time frame. Amid the downward pressure, we are waiting until the price resumes the bearish bias in the upcoming sessions with a target testing 15.49 level mainly. Therefore, we still suggest the bearish trend in the upcoming sessions unless we witness a clear breach and the price is able to hold above 16.56. The expected trading range for today is between 15.70 support and 16.05 resistance.