Silver price approaches the first target – Analysis - 01-07-2020
Silver price provided clear positive trades yesterday to succeed surpassing the intraday bearish channel’s resistance and approaches our first waited target at 18.38, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, which its targets extend to reach 18.93 after surpassing the previous level.
The EMA50 keeps supporting the price from below, to continue suggesting the bullish bias in the upcoming sessions, taking into consideration that breaking 17.80 will press on the price to turn to decline on the intraday basis and visit areas that reach 16.80 before any new attempt to rise.
The expected trading range for today is between 18.00 support and 18.60 resistance.
The expected trend for today: Bullish
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