Midday update for Silver 26-07-2017

Silver price shows slight bearish bias to approach from the key support 16.20, which represents one of the next trend keys besides 16.56 resistance, and as we mentioned in our recent reports, the price needs to breach one of these levels to detect its next destination clearly, which makes us continue with our neutrality until now.

Note that the EMA50 and stochastic negativity interpret the reasons of the current bearish bias, which might push the price to provide more bearish bias for the rest of the day, noting that the details of the expected targets after breaching the above mentioned levels are explained in our morning report.

Expected trading range for today is between 16.20 support and 16.60 resistance.

Expected trend for today: Neutral