Silver price achieved clear breach to 16.56 level and settled with a daily close above it, which reactivate the the bullish trend scenario on the intraday and short term basis, paving the way to head towards 17.43 areas initially.
Therefore, we expected witnessing more rise in the upcoming sessions, supported by the EMA50 that meets with 16.56 to add more strength to this level that turns into key support after breaching it previously, noting that holding above this level is important to continue the expected rise for today.
Expected trading range for today is between 16.56 support and 16.90 resistance.
Expected trend for today: Bullish