Silver builds support base – Analysis - 11-01-2017

Silver price rallied bullishly to confirm surpassing 16.56 level, which supports the continuation of our bullish overview efficiently in the upcoming period, and the way is open to head towards 17.43 level that represents the next main target, noting that there is key resistance at 17.15 that the price needs to breach to confirm continuing the rise.

Therefore, we will continue to suggest the bullish trend in the upcoming sessions supported by the EMA50, noting that holding above 16.56 level is important to continue the bullish momentum of the price.

Expected trading range for today is between 16.56 support and 17.15 resistance.

Expected trend for today: Bullish