Silver price attempts positively – Analysis - 19-11-2019

Silver price provided positive trading yesterday to settle above 16.96, but we notice that the EMA50 forms solid barrier against the intrady trades to stop the rise and put the price under negative pressure on the intraday basis, besides that stochastic provides clear negative signals now.

Therefore, these factors encourage us to suggest the bearish trend in the upcoming sessions, noting that breaking 16.75 will ease the mission of achieving the main waited target at 16.33, while breaching 17.10 represents the key to achieve additional gains and test 17.60 areas before any new attempt to decline.

The expected trading range for today is between 16.70 support and 17.20 resistance.

The expected trend for today: Bearish