Overview

The silver price did not show any strong moves yesterday fluctuating within a tight track confined between the key levels represented by the 16.20 support and the 16.56 resistance. We are waiting for a breach of these levels to detect the next trend clearly, until then we remain neutral. We remind you that a breach of the mentioned resistance will push the price to extend its gains on the short-term basis and head towards 17.43 as the next main station; a break of 16.20 will push the price to test the key support 15.49 before any new attempt to rise. The expected trading range for today is between the 16.20 support and the 16.65 resistance.