Silver gathers the positive momentum – Analysis - 29-03-2017

Silver price provides some slight bearish trading after approaching from our initial main target at 18.30, where the price affected by stochastic negativity that gains the positive momentum gradually heading towards the oversold levels, while the EMA50 continues to provide positive support for the price.

Therefore, we keep preferring the overall bullish trend unless breaking 17.43 then 17.10 levels and holding below it, pointing that breaching 18.30 will push the price to visit the resistance of the bullish channel that appears in the image at 18.90.

Expected trading range for today is between 17.80 support and 18.30 resistance.

Expected trend for today: Bullish