Silver rises calmly – Analysis - 16-04-2018

Silver price shows slight bullish bias on its way to test 16.80 level, which represents the sideways range’s resistance line that its support line located at 16.15, and as long as the price is between these levels, the sideways move scenario will remain valid on the intraday basis, waiting to breach one of these levels to detect the next targets clearly.

We remind you that breaching 16.80 resistance will push the price to achieve positive gains that reach 17.43 as a next station, while breaking 16.15 support will push the price to visit 15.49 level before any new attempt to rise.

Expected trading range for today is between 16.40 support and 16.85 resistance.

Expected trend for today: Sideways