Midday update for Silver 26/05/2015

Silver price traded with clear negativity to move away from 17.10 level, by looking deeper to the chart, we find that the price completed drawing a double top pattern that its full target meets the next critical support at 16.05.

Therefore, the bearish trend will be expected for the rest of the day, as long as the price below 17.10 level, and monitoring the price when reaching the targeted level is important, waiting for a potential bullish rebound to resume the overall bullish trend again.

Expected trading range for today is between 16.05 support and 17.50 resistance.

Expected trend for today: Bearish for the rest of the day