Overview

Silver traded with a negative bias yesterday after testing 16.80 level that represents resistance of the sideways channel that appears on the chart. Now the price is on the way for a potential test of support at 16.15 of this trading range. Therefore, silver is still trading sideways on the intraday basis, waiting to surpass one of the mentioned levels to detect the next targets clearly. Please note that the details of the expected targets after the breach are explained in our previous report. The expected trading range for today is between 16.20 support and 16.70 resistance.