Silver approaches the target – Analysis - 08-12-2017

Silver price traded with clear negativity yesterday to approach our main waited target at 15.49, which keeps our bearish overview valid for the upcoming period, noting that it is important to monitor the price behavior when reaching the mentioned level, as breaking it will extend silver price losses to target the previously recorded low at 13.75.

Therefore, we are waiting for more bearish bias today unless breaching 16.56 level and holding above it.

Expected trading range for today is between 15.50 support and 15.90 resistance.

Expected trend for today: Bearish