Silver price attempts to recover - Analysis - 16-05-2022

Economies.com
8 months ago

Silver price provided positive trades to test 21.00 level, noticing that stochastic lost its positive momentum to start providing negative signals now, which supports the chances of resuming the expected bearish trend on the intraday and short term basis, which its next targets extend to reach 19.75 areas.

 

Breaking 20.70 will ease the mission of achieving the suggested target, while the continuation of the bearish wave requires holding below 21.65.

 

The expected trading range for today is between 20.50 support and 21.30 resistance.

 

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The expected trend for today: Bearish

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