Silver resumes rising – Analysis - 16-02-2017
Economies.com
2017-02-16 05:51AM UTC
Silver price bounced higher after leaning on the intraday bullish channel’s support, which meets the EMA50 to strengthen it, reinforcing the chances for the bullish trend continuation in the upcoming sessions, waiting for testing 18.30 level initially.
Therefore, we wait for more of the bullish bias on the intraday and short term basis, conditioned by holding above 17.75 and the most important above 17.43, reminding you that breaching 18.30 level will extend the bullish wave to reach 19.38.
Expected trading range for today is between 17.75 support and 18.40 resistance.
Expected trend for today: Bullish
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