Silver breaks the support – Analysis - 28-04-2017

Silver price broke 17.43 level and settled with a daily close below it, which stops the recently suggested positive scenario and put the price under the negative pressure on the short term basis, paving the way to head towards 16.56 as a next main station.

Therefore, the bearish trend will remain suggested in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that breaching 17.43 followed by 17.60 levels will stop the expected decline and lead the price to regain its main bullish track again.

Expected trading range for today is between 17.10 support and 17.45 resistance.

Expected trend for today: Bearish