Silver price awaits the breach confirmation – Analysis - 16-08-2019

Silver price continues to fluctuate around 17.30 level without managing to confirm the stability above it until now, noticing that stochastic begins providing positive overlapping signal that we are waiting to assist to push the price to achieve the required breach followed by rallying to achieve more gains.

Therefore, we believe that the chances are valid to trade positively in the upcoming sessions, especially that the price is organized inside the bullish channel that appears on the chart, reminding you that our next target reaches 18.45, while holding above 16.50 represents the most important condition to achieve it.

The expected trading range for today is between 17.00 support and 17.50 resistance.

The expected trend for today: Bullish