Silver touches the first target – Analysis - 30-05-2017

Silver price succeeded to touch our first waited target at 17.43 and settles there, waiting to breach this level to reinforce the expectations of extending silver price gains to reach 18.30, noting that the previously completed double bottom pattern supports the chances of achieving the required breach.

Therefore, we will continue to suggest the bullish trend on the intraday and short term basis, noting that holding above 17.00 represents the first protecting factor to the continuation of the suggested rise.

Expected trading range for today is between 17.20 support and 17.60 resistance.

Expected trend for today: Bullish