Silver crawls upwards – Analysis - 17-02-2017

Silver price traded positively to approach gradually from our waited initial target at 18.30, where the price remains organized within the bullish channel that carries the trading since the middle of last December, pointing that the EMA50 keeps protecting the trading within the mentioned channel, waiting for more of the positivity in the upcoming period.

Therefore, our bullish trend expectations will remain active conditioned by holding above 17.80 and the most important above 17.43, reminding you that breaching 18.30 level will extend the bullish wave to reach 19.38 on the near term basis.

Expected trading range for today is between 17.80 support and 18.40 resistance.

Expected trend for today: Bullish