Silver price approaches the target – Analysis - 28-10-2019

Silver price continued to rise to approach our waited target at 18.40, showing some bearish bias after touching the intraday bullish channel’s resistance, noticing that the EMA50 provides continuous positive support to the price, while stochastic gets rid of its negative momentum clearly.

Therefore, we believe that the chances are valid to trade positively in the upcoming sessions, noting that breaching 18.40 will extend the bullish wave to reach 18.70 followed by 19.00 levels as next main stations, while holding above 17.60 represents key condition to continue the expected rise.

The expected trading range for today is between 17.80 support and 18.40 resistance.

The expected trend for today: Bullish