Silver tests the resistance – Analysis - 07-06-2018

Silver price traded positively yesterday to reach the sideways range’s resistance at 16.80, and the price still confined inside this range that its support line located at 16.15, and it might witness bearish bias in the upcoming sessions, affected by stochastic reach to the overbought areas.

In general, we will continue to suggest the sideways move until the price manages to surpass one of the above mentioned levels, reminding you that breaching the resistance will push the price towards 17.43 initially, while breaking the support will press the price to visit 15.49 before any new attempt to rise.

Expected trading range for today is between 16.45 support and 16.90 resistance.

Expected trend for today: Sideways