Silver attempts positively – Analysis - 25-05-2017

Silver price traded positively after retesting the neckline of the double bottom pattern that appears on chart, to resume its bullish bias that still dominate the intraday trading, waiting to test 17.43 level initially, noting that breaching this level will push the price to head towards 18.30 as a next main station.

Therefore, we will continue to suggest the bullish trend in the upcoming sessions supported by the EMA50, taking into consideration that breaking 16.56 will stop the suggested rise and push the price to decline again.

Expected trading range for today is between 17.00 support and 17.50 resistance.

Expected trend for today: Bullish