Overview

Silver price managed to bounce higher after approaching 15.00 level yesterday, moving now above 15.30 again. Such a dynamic is raising expectations for a longer bullish bias in the short term. It opens the way towards targeting 15.70 level as the next main station. Therefore, we confirm our scenario of the bullish trend on the intraday and short-term basis as long as the metal is trading above 14.67 level. A break of this level represents a negative factor that might push the price to regain the main bearish trend.

Expected trading range for today is between 15.00 support and 15.70 resistance.