Silver price shows sideways and tight trading recently, noticing that stochastic continues to lose the positive momentum to reach the overbought areas, which supports the chances of resuming the bearish trend on the intraday and short term basis, waiting to visit 15.49 level initially.
Therefore, our bearish overview will remain active conditioned by holding above 16.56, as breaching this level will push the price to attempt to regain the bullish trend that its first positive target located at 17.43.
Expected trading range for today is between 15.80 support and 16.15 resistance.
Expected trend for today: Bearish