Overview

Silver traded positively after retesting the neckline of the double bottom pattern that appears on chart. It confirms that a bullish bias is still dominating the intraday trading. We are waiting until 17.43 level is tested initially. Please note that breaching this level will push the price to head towards 18.30 as the next main station. Therefore, we still suggest the bullish trend in the upcoming sessions supported by the EMA50. Besides, it should be taken into consideration that breaking 16.56 will stop the suggested rise and push the price to decline again. The expected trading range for today is between 17.00 support and 17.50 resistance.