Midday update for Silver 28-02-2020
Economies.com
2020-02-28 10:57AM UTC
Silver price declined strongly to reach our waited negative target at 16.96, noting that breaking the bullish trend line hints that the price is on its way to achieve more decline in the upcoming period, as breaking the mentioned level represents the key to rally towards 16.33 as a next negative target.
Therefore, the negative scenario will remain suggested for the rest of the day unless breaching 17.60 – 17.70 levels and holding above them.
The expected trading range for today is between 17.20 support and 17.70 resistance.
The expected trend for today: Bearish
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