Silver leans on the support – Analysis - 20-04-2017

Silver price keeps its stability above the intraday bullish channel’s support level, and we still need to breach 18.30 level to confirm the continuation of the bullish trend on the intraday and short term basis, pointing that the price needs to surpass the negative pressure that formed by the EMA50 to ease the price mission to achieve the suggested rise.

Therefore, we wait for positive trading in the upcoming sessions, waiting for targeting 19.38 level mainly, being aware that breaking 18.05 level will push the price to visit 17.43 level before any new positive attempt.

Expected trading range for today is between 18.00 support and 18.55 resistance.

Expected trend for today: Bullish