Silver approaches from the target – Analysis - 29-05-2017

Silver price continues its gradual rise to reach the thresholds of the first waited target at 17.43, and the positive effect of the double bottom pattern keeps pushing the price to the upside, waiting for breaching the mentioned level to confirm the extension of the bullish wave to 18.30.

Therefore, we believe that the way is open for achieving more of the upside moves in the upcoming sessions, supported by the EMA50, being aware that the continuation of the positive scenario depends on the stability above 16.56 level.

Expected trading range for today is between 17.20 support and 17.55 resistance.

Expected trend for today: Bullish