Overview

Silver price continues to fluctuate in a sideways manner. The price is trapped in a tight track, settling below 16.56. Please, note that stochastic begins to provide a negative overlapping signal on the daily time frame. Traders should wait until the price is to motivated to resume the recently suggested bearish trend, which aims testing 15.49 level mainly. Therefore, we will still suggest the bearish trend in the short term, unless 16.56 level is breached and holds above it with a daily close. The expected trading range for today is between 15.90 support and 16.30 resistance.