Silver price attempts to recover – Analysis - 11-01-2019

Silver price pressed negatively on 15.62 level yesterday, but we notice that the EMA50 formed good support base to protect the price from suffering more losses, while stochastic forms good positive motive that we are waiting to assist to push the price to breach 15.70 and activate the positive effect of the bullish flag pattern, followed by rallying towards our waited positive target at 16.00.

Therefore, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 15.55.

Expected trading range for today is between 15.55 support and 16.00 resistance.

Expected trend for today: Bullish