Silver price affected by the positive momentum – Analysis - 02-10-2018

Silver price shows slight positivity now after testing the EMA50, affected by stochastic positivity, and it might show new test to the key resistance 14.73 before turning back to decline again.

In general, we will continue to suggest the bearish trend depending on the price stability below the mentioned resistance, noting that breaking 14.30 will activate the negative effect of the bearish flag pattern that we expect to push the price to achieve negative targets that start at 13.93 and extend to 13.50.

Expected trading range for today is between 14.25 support and 14.73 resistance.

Expected trend for today: Bearish