Silver price attempts negatively – Analysis - 27-02-2019

Silver price provided negative attempts by today’s opening but it returns to fluctuate around the previously broken bullish trend line, noticing that stochastic loses its positive momentum clearly to approach the overbought areas, waiting to motivate the price to resume the expected bearish wave, which targets testing 15.62 level mainly.

Note that breaking the mentioned level will push the price towards 15.22 as a next station, while breaching 16.00 will stop the expected decline and push the price to resume the bullish wave on the short term basis.

The expected trading range for today is between 15.60 support and 16.10 resistance.

The expected trend for today: Bearish